Ringgit Opens Lower Against US Dollar

KUALA LUMPUR, Oct 12 (Bernama) -- The ringgit opened lower against the US dollar in the early session on Wednesday, tracking the performance of emerging Asian currencies. At 9.01 am, the ringgit was quoted at 4.1900/1950 against the greenback from 4.1700/1750 on Tuesday's close. A dealer said the performance of the renmimibi, which traded at a six-year low, coupled with the strong dollar on anticipation of the US Federal Reserve raising interest rates in December, had affected Asian currencies. Meanwhile, the local note traded easier against a basket of major currencies, except for the euro. The ringgit fell against the yen to 4.0456/0516 from 4.0135/0198 on Tuesday and slipped against the Singapore dollar to 3.0382/0432 from 3.0235/0273. It gained against the euro to 4.6274/6346 from 4.6320/6380, but weakened against the British pound to 5.1378/1452, from Tuesday's close of 5.1283/1369. -- BERNAMA