Ringgit lower against USD in early trade

The ringgit was lower against the US dollar in early trade today due to lack of demand, dealers said.

At 9.08am, the local unit traded against the greenback at 3.1015/1045 compared with 3.0955/0985 at 5pm yesterday.

Dealers attributed the thin trading to investors being cautious over the weaker performance of the local and regional stock markets.

In the early session today, the local unit traded mostly lower against other major currencies.

Against the Singapore dollar, the ringgit declined to 2.5014/5059 from 2.5004/5038 on Wednesday, and was down against the Japanese yen at 3.3203/3249 from 3.3008/3058.

The ringgit eased against the British pound at 4.8545/8601 from 4.8407/8461 yesterday but marginally increased against the euro at 4.1907/1951 from 4.1925/1969 previously.