Ringgit Opens Lower Against US Dollar

KUALA LUMPUR, Jan 11 (Bernama) -- The ringgit pared down against the US dollar in early trade Monday on a lack of interest from investors, dealers said. At 9 am, the ringgit was lower at 4.4070/4150 against the greenback from last Friday's 4.3800/3900. "The negative sentiment from last week was prolonged to today's (Monday) morning session and investors are turning to gold as a safe-haven," a dealer said. He added that the market was awaiting the next move by the People's Bank of China in setting up the renmimbi guidance rate Monday. The ringgit ended lower against the Singapore dollar at 3.0606/0670 from last Friday's 3.0472/0550 and fell against the British pound to 6.4003/4141 from 6.4014/4182. The local unit slipped further against the yen to 3.7618/37703 from 3.6993/6093 and vis-a-vis the euro, it declined to 4.8151/8256 from 4.7611/7737. -- BERNAMA