Ringgit opens lower against greenback

The ringgit opened lower against the US dollar today on low demand for the local currency versus the greenback, a dealer said.

At 9.08 am, the local unit was traded at 4.4300/4350 against the US dollar from Monday's close of 4.4250/4290.

Public Investment Bank Bhd, in a note today, said the US dollar gained some ground as the political and economic uncertainties in Europe left the financial markets' trading with a mildly risk-averse tone.

The ringgit was traded lower against a basket of major currencies.

It rose against the Singapore dollar to 3.1341/1398 from 3.1385/1418 and fell versus yen to 3.9607/9680 from 3.9312/9351 on Monday.

The local unit depreciated against the British pound to 5.5229/5318 from 5.5197/5261 and rose against the euro at 4.7490/7561 from 4.7551/7598 previously.

-- BERNAMA