Malaysian Ringgit Opens Lower Against US Dollar

KUALA LUMPUR, Nov 7 (Bernama) -- The ringgit opened lower against the US dollar Monday as oil prices continued their downtrend in the global market on worries over higher US crude inventories, dealers said. At 9 am, the ringgit was quoted at 4.2040/2090 against the greenback from 4.1970/1020 on Friday. At the opening, Brent crude was lower at US$45.88 a barrel. He said Hilary Clinton's chances of being elected US President has improved and this helped the US dollar. "Clinton is likely to maintain a policy that prevents a strong dollar if she is elected,"he said. The ringgit was traded mostly lower against a basket of major currencies. The local note eased against the Singapore dollar to 3.0312/0359 from 3.0288/0333 on Friday and increased against the yen to 4.0431/0487 from 4.0759/0820 previously. The ringgit was traded lower against the British pound at 5.2470/2549 from Friday's 5.2370/2445 and slipped against the euro to 4.6669/6741 from 4.6583/6642 previously. -- BERNAMA