Ringgit Opens Marginally Lower Vs US Dollar

KUALA LUMPUR, Aug 11 (Bernama) -- The ringgit opened slightly lower against the US dollar Friday on subdued demand ahead of the release of US inflation data slated to be released Friday. At 9.06 am, the local unit stood at 4.2920/2970 against the greenback compared with Thursday's close of 4.2870/2910. The local note’s decline Friday was in line with other Asian emerging currencies weighed down by US-North Korea geopolitical risk tension, which had interrupted investors’ buying momentum, contributed to the decrease in Asian currencies market. “However, the US dollar remained steady against major currencies as traders are focusing on US inflation data due Friday given their possible impact on Federal Reserve’s monetary policy for further market direction,” he said. Against other currencies, the local note was mostly lower. It eased against the Singapore dollar to 3.1503/1545 from 3.1455/1496 Thursday and depreciated versus the yen to 3.9354/9408 from 3.9040/9087 on Thursday. The ringgit decreased against the euro to 5.0525/0597 from 5.0321/0385 Thursday and rose to 5.5719/5797 from 5.5765/5834 on Thursday compared with the British pound. -- BERNAMA