Business

Ringgit opens lower against US dollar

Steady crude oil prices prevented local note from dropping further

Updated 4 years ago · Published on 26 Oct 2021 10:50AM

Ringgit opens lower against US dollar
At 9.02am, the local currency depreciated to 4.1505/1535 versus the greenback from 4.1480/1510 at yesterday's close. – File pic, October 26, 2021

KUALA LUMPUR – The ringgit opened easier against the greenback today on a lack of market catalysts, said a dealer.

At 9.02am, the local currency depreciated to 4.1505/1535 versus the greenback from 4.1480/1510 at yesterday's close.

The dealer said market participants were cautious ahead of the tabling of Budget 2022 on Friday.

“However, the steady crude oil prices, which currently at above US$85 per barrel, capped the ringgit from trading further lower,” he said.

The local note traded mixed against a basket of major currencies.

It fell against the Singapore dollar to 3.0811/0835 from 3.0781/0805 yesterday and weaker vis-a-vis the British pound at 5.7103/7144 from 5.7043/7085.

However, the local currency appreciated versus the Japanese yen to 3.6456/6482 from 3.6504/6534 yesterday and rose against the euro to 4.8158/8193 from 4.8229/8264. – Bernama, October 26, 2021

Related News

Malaysia / 2h

Man loses RM12.47 million; cryptocurrency assets vanish

Business / 1mth

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

Business / 2mth

Central bank policies remain crucial in shaping currency market movements

Business / 5mth

Ringgit edges higher against US Dollar amid subdued market sentiment

Business / 6mth

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

Business / 6mth

BNM ensures orderly financial markets amid global uncertainties

Spotlight

Malaysia

Five fatal helicopter crash victims honoured in Sarawak state awards

Malaysia

No Malaysian is left behind; Budget 2027 puts people first - Anwar  

Malaysia

Panama hit by 6.4-magnitude earthquake

Malaysia

Haze blankets 33 areas with unhealthy air

Malaysia

Malaysia’s 2027 Budget is a steady one: people-oriented continuity rather than bold reform

Malaysia

Budget 2027: What is in it for me?

Malaysia

Budget 2027 steps up Sabah, Sarawak funding by RM2.2b amid push for development parity

Malaysia

Budget 2027: Maternity leave entitlement increased, minimum pension raised to RM1,350

You may be interested

Business

Budget 2027 targets foreign e-commerce platforms, channels billions into local firms and startups

Business

Budget 2027 channels RM270m to SMEs through crowdfunding, P2P financing

Business

Oil slips on Trump’s Iran remarks, but supply risks and strong US dollar keep markets on edge

Business

Malaysia draws US$9.5b in orders for US$1.5b sukuk, cuts borrowing costs