Malaysian Ringgit Opens Marginally Lower Against Greenback

KUALA LUMPUR, Dec 28 (Bernama) -- The ringgit opened marginally lower against the greenback on Wednesday, on the back of weaker crude oil prices in early trade, said dealers. At 9 am, the local unit slid to 4.4780/4820 against the US dollar from Monday's close of 4.4760/4810. A dealer said the benchmark Brent Crude oil price had a slight downward trajectory at US$55.93 per barrel, while West Texas Intermediate was lower at US$53.76 per barrel. On the current state of crude oil prices, RHB Research said in a note traders were prompted to maintain long positions, as market strength remained encouraging. The ringgit traded mixed against other major currencies. It depreciated against the Singapore dollar to 3.0904/0949 from Monday's 3.0895/0946, strengthened against the Japanese yen to 3.8062/8112 from 3.8168/8214 and declined against the British pound to 5.5017/5079 from 5.4921/4995. However, the local note trimmed vis-a-vis the euro to 4.6853/6900 from 4.6770/6831. --BERNAMA