Business

Ringgit opens lower against US dollar

Local note weighed down by cautiousness ahead Budget 2022, fall in Brent crude oil

Updated 4 years ago · Published on 28 Oct 2021 10:30AM

Ringgit opens lower against US dollar
At 9.05am, the local currency eased to 4.1540/1570 versus the greenback from 4.1530/1560 at yesterday's close. – Bernama pic, October 28, 2021

KUALA LUMPUR – The ringgit continued to depreciate against the US dollar at the opening today, with investors waiting on the sidelines ahead of the Budget 2022 tabling tomorrow, said a dealer.

At 9.05am, the local currency eased to 4.1540/1570 versus the greenback from 4.1530/1560 at yesterday's close.

The dealer said ringgit had been experiencing a technical correction due to its overbought position.

“The fall in the benchmark Brent crude oil price to below US$85 per barrel also weighed on the local unit,” he said.

At the time of writing, Brent crude oil slipped 1.24% to US$83.53 per barrel.

At the opening, the local note traded mixed against a basket of major currencies.

It depreciated against the Singapore dollar to 3.0779/0804 from 3.0763/0790 yesterday and fell against the euro to 4.8153/8188 from 4.8137/8172 previously.

However, it had appreciated versus the Japanese yen to 3.6512/6539 from 3.6542/6572 at yesterday's close, and climbed against vis-a-vis the British pound to 5.7026/7067 from 5.7033/7074 previously. – Bernama, October 28, 2021

Related News

Business / 5d

Moves in major US stock indices could spill into currency and gold markets

Business / 1mth

Central bank policies remain crucial in shaping currency market movements

Business / 4mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 5mth

Ringgit retreats to 4.00 versus the US Dollar amid West Asia ceasefire uncertainties

Business / 5mth

BNM ensures orderly financial markets amid global uncertainties

Malaysia / 5mth

Middle East conflict: Brace for more expensive imports - Tengku Zafrul

Spotlight

Malaysia

Singapore could bar under-18s from social media platforms that fail safety test

Malaysia

College student dies after falling from 22nd-floor condominium in Setapak

Malaysia

PM praised for ‘Medeka Day’ reforms; More needed to cope with rising costs – Guan Eng

By Ian McIntyre

World

Tupac Shakur murder case ends after 30 years as ex-gang leader found guilty

Malaysia

Unidentified man found dead in Sungai Buloh drain as police probe suspected murder

Malaysia

Four killed, four injured in 11-vehicle Pahang highway crash

Malaysia

Sarawak haze crisis deepens as five areas hit hazardous air quality

Opinion

Would the United States use nuclear weapons against Iran?

Malaysia

Tajikistan eyes bigger role for Malaysia in Central Asian market

By Alfian Z.M. Tahir

You may be interested

Business

MT4 or MT5? For traders, the choice often comes down to how they trade

By Alfian Z.M. Tahir

Business

Oil prices top US$91 as renewed US-Iran fighting raises global energy shock fears