Ringgit Opens Marginally Lower Against US Dollar

KUALA LUMPUR, Aug 18 (Bernama) -- The ringgit retreated from Thursday’s gains to open marginally lower versus the US dollar Friday on lack of interest for the local currency, a dealer said. At 9.05 am, the local unit was quoted at 4.2950/2980 against the greenback from Thursday's 4.2940/2970. However, losses were capped by increased uncertainty over another US interest rate hike this year due to wary over the US inflation level. Meanwhile, the ringgit ended mostly lower against other major currencies. It fell against the Singapore dollar to 3.1433/1471 from 3.1430/1464 on Thursday and depreciated versus the yen to 3.9242/9280 from 3.8997/8032 Thursday. The local unit decreased versus the euro to 5.0363/0416 from 5.0261/0305 Thursday but strengthened against the British pound to 5.5277/5324 from 5.5311/5354 on Thursday. -- BERNAMA