Ringgit Opens Marginally Lower Against US Dollar

KUALA LUMPUR, Aug 8 (Bernama) -- The ringgit opened marginally lower against the US dollar Tuesday on subdued demand on the back of strong US jobs data and ahead of the release of its inflation data later this week. At 9.04 am, the local unit stood at 4.2830/2870 against the greenback compared with Monday's close of 4.2820/2850. "Investors are optimistic on the inflation data as it might elevate and propel the greenback this year,” said a dealer. Against other currencies, the local note was mostly lower. It declined against the Singapore dollar to 3.1430/1476 from 3.1416/1456 Monday and depreciated versus the yen to 3.8669/8709 from 3.8632/8663 on Monday. However, the ringgit fell against the euro to 5.0561/0612 from 5.0528/0580 Monday and rose to 5.5825/5915 from 5.5884/5928 on Monday when compared with the British pound. -- BERNAMA