Malaysian Ringgit Lower Against US Dollar In Early Session

KUALA LUMPUR, Jan 22 (Bernama) -- The Malaysian ringgit was lower against the US dollar in early session Tuesday, as weaker global oil price hampered buying sentiment for the local note. At 9.10 am, the ringgit stood at 4.1200/1250 against the greenback from 4.1100/1150 recorded last Friday A dealer said global oil price declined due to worries over slower demand in the future with the US-China trade conflict expected to reduce global growth. “The weaker oil price is perceived to be negative for the ringgit as it will affect the country’s oil and gas revenue,” he added. International benchmark Brent crude oil futures were down 0.2 per cent to US$62.64 a barrel while the US West Texas Intermediate (WTI) crude futures declined 0.1 per cent to US$53.70 per barrel. Meanwhile, the ringgit traded mixed against other major currencies. It was flat against the Singapore dollar to 3.0303/0351 from 3.0303/0362 but was lower against the euro at 4.6832/6893 from 4.6817/6890 last Friday. The local unit appreciated vis-a-vis the Japanese yen to 3.7602/7654 from 3.7606/7659 and rose against the British pound to 5.3099/3180 from 5.3315/3396. -- BERNAMA