Ringgit opens lower against greenback

KUALA LUMPUR: The ringgit opened lower against the US dollar today amid a quiet trading session after the long festive holiday.
At 9.00 am, the ringgit stood at 3.8900/8930 against the greenback from Monday's close of 3.8890/8920.
OANDA Corp Head of Trading for Asia Pacific, Stephen Innes said the broader US dollar sentiment will dictate the pace of play for regional currencies, as well as the ringgit.
"On a favourable note, oil prices remain robust on the escalation of middle east tension and production cut compliance among the Organisation of the Petroleum Exporting Countries members, which should provide support for the ringgit," he said.
Against a basket of major currencies, the ringgit traded higher.
It rose against the Singapore dollar to 2.9593/9627 from 2.9619/9660 on Monday and strengthened against the Japanese yen to 3.6430/6468 from yesterday's 3.6472/6510.
The ringgit appreciated versus the British pound to 5.4433/4486 from 5.4508/4554 and firmed vis-a-vis the euro to 4.8255/8297 from 4.8259/8311. — Bernama