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Ringgit opens marginally lower against USD

KUALA LUMPUR, Apr 7: The ringgit opened marginally lower against the US dollar today on lack of demand for the local note, said dealers.

At 9 am, the local note was traded at 4.4360/4390 against the greenback from Thursday’s close of 4.4350/4380.

A dealer said the greenback strengthened moderately for a modest gain as investors awaited the release of US non-farm payroll data that would shed some light on US interest rates hike.

“The non-farm payroll would provide employment data that would reflect the strength of the US economy,” he said.

The ringgit was traded mostly higher against other major currencies.

It was marginally lower against the Singapore dollar at 3.1622/1651 from 3.1620/1659 on Thursday, however, it improved against the yen to 3.9986/0020 from 4.0045/0076.

The local note strengthened against the British pound to 5.5250/5297 from 5.5344/5386 on Thursday and was higher against the euro at 4.7190/7240 from 4.7304/7345 yesterday.– Bernama

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