Malaysian Ringgit Opens Lower Against US Dollar

KUALA LUMPUR, Sept 6 (Bernama) -- The Malaysian ringgit opened lower against the US dollar on Tuesday and ahead of Bank Negara Malaysia's (BNM or Malaysia's Central Bank) policy meeting on Wednesday, which will determine the country's interest rates. At 9 am, the ringgit was quoted at 4.0725/0775 against the greenback from 4.0670/0710 on Monday's closing. BNM had unexpectedly cut the Overnight Policy Rate by 25 basis points to three per cent at its previous Monetary Policy Committee meeting due to potential risks from Britain's exit from the European Union. Meanwhile, the ringgit traded mixed against a basket of major currencies. The local note rose against the euro to 4.5376/5448 from 4.5404/5465 on Monday and strengthened against British pound to 5.4176/4272 from 5.4181/4258. It also improved vis-a-vis the yen to 3.9280/9339 from 3.9417/9459, but declined against the Singapore dollar to 2.9998/3.0039 from 2.9959/0009. --BERNAMA