Tuesday, January 13, 2009

FOREX: Ringgit Opens Lower Against US Dollar

Alittle update about Ringgit Malaysia that are opened lower than before. The ringgit opened lower against the U.S. dollar amid growing concerns over the global economic growth prospects, dealers said.

At 9am, the local unit was traded lower at 3.5850/5890 against the greenback compared with yesterday's closing of 3.5700/5730.

In the early trading today, the ringgit traded mixed against other major currencies.

It fell against the Singapore dollar at 2.4017/4065 from 2.3989/4030 Monday and slipped against the yen to 4.0042/0096 from 3.9587/9638 previously.

The local unit however, rose against the pound sterling to 5.2918/2995 from 5.3414/3477 yesterday and advanced against the euro to 4.7706/7773 from 4.7749/7803 previously.

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