Ringgit Slips Against US Dollar At Opening

KUALA LUMPUR, Oct 9 (Bernama) -- The ringgit slid further against the US dollar Tuesday following lack of buying interest amid a stronger greenback, said a dealer. At 9 am, the local currency stood at 4.1550/1600 against 4.1530/1560 recorded at Monday's closing. The dealer also said besides the strengthening of the US dollar and ongoing trade tension between the US and China, the local political and economic landscape, besides oil prices, also influences the currency performance. "With the existing tension between China and the US, investors would look for security in other markets as well before investing," she told Bernama. The Chinese currency ended at its lowest in seven weeks at 6.9315 yuan per dollar as investors are worried about the escalating trade tension between the two nations and the possibility of another tariff hike. At 9am, benchmark Brent crude stood at US$83.74 per barrel. Meanwhile, the ringgit was traded lower against all other major currencies. It fell against the Singapore dollar to 3.0015/0053 from 2.9979/3007 Monday and slipped versus the Japanese yen to 3.6744/6798 from 3.6639/6668. The local note decreased against the euro to 4.7737/7798 from 4.7647/7694 and fell against the British pound to 5.4372/4454 from 5.4242/4302. -- BERNAMA