Malaysian Ringgit Opens Slightly Lower Against US Dollar

KUALA LUMPUR, Dec 11 (Bernama) – The Malaysian ringgit was slightly lower against the US dollar Tuesday morning on concerns over slowing global growth and weaker oil prices. At 9.11 am, the local note stood at 4.1770/1810 against the US dollar from 4.1700/1750 at yesterday’s close. A dealer said worries about slowing global growth and lower oil price turned investors’ interest towards the greenback. “The benchmark Brent crude oil futures settled 2.76 per cent lower at US$59.97 a barrel, while US futures fell 3.06 per cent to US$51.00 a barrel,” he added. Meanwhile, the ringgit traded higher against other major currencies. It rose against the Singapore dollar to 3.0398/0438 from 3.0431/0470 on Monday and was higher against the yen at 3.6929/6971 from 3.6991/6039. It improved against the pound to 5.2492/2547 from 5.3059/3139 and appreciated against the euro at 4.7447/7500 from 4.7588/7649. -- BERNAMA