Ringgit Opens Slightly Lower

KUALA LUMPUR, March 28 (Bernama) -- The ringgit opened slightly lower against the US dollar on lack of catalysts, said a dealer. At 9 am, the local currency traded at 4.0750/0830 compared with Wednesday’s close of 4.0700/0750. The dealer said the ringgit and other emerging Asian currencies were pressured by the firmer US dollar in line with the declining sentiment about a slowdown in global growth. “Higher demand for the greenback also propelled by continued signs of a weakening economy in Europe and the market players are expected to shift their focus on the upcoming US-China trade negotiation, which is scheduled to be held in Beijing this week,” he said. Meanwhile, the ringgit traded mostly higher against a basket of other major currencies. It declined against the Japanese yen to 3.6941/7024 from Wednesday’s closing of 3.6853/6901, but rose against British pound to 5.3704/3814 from 5.3744/3819. The local currency strengthened against the Singapore dollar to 3.0049/0111 from 3.0068/0107 and improved versus the euro at 4.5832/5934 from 4.5910/5970 Wednesday. -- BERNAMA