Ringgit Opens Lower Against US Dollar

KUALA LUMPUR, Nov 30 (Bernama) -- The ringgit continued its downtrend against the US dollar this morning due to floundering global oil prices, a dealer said. At 9.13 am, the local unit stood at 4.4600/4680 against the greenback from 4.4590/4650 on Tuesday. Investors are cautious ahead of the Organisation of Petroleum Exporting Countries (OPEC) meeting today which is scheduled to decide on a daily output cut for members, which could potentially churn financial markets and weigh on the ringgit. Meanwhile, the ringgit was lower against other major currencies. It depreciated slightly against the Singapore dollar to 3.1322/1394 from 3.1300/1360 and declined against the yen to 3.9719/9797 versus 3.9653/9701 Tuesday. Against the euro, it was lower at 4.7468/7575 from 4.7270/7342 on Tuesday and fell versus the British pound to 5.5679/5792 from 5.5278/5370 previously. -- BERNAMA