Ringgit eases against US dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar today weighed by the weaker crude oil price, dealers said.
At 9am, the local unit stood at 4.2870/2900 against the greenback from 4.2855/2885 on Thursday.
A dealer said with Brent plunging below US$45 for the first time since November, investors are becoming more concerned as to when the plunge will stop.
“It’s evident that oil prices are becoming the primary driver of the financial markets,” he said.
However, the ringgit was traded higher against a basket of major currencies.
It appreciated against the Singapore dollar to 3.0828/0863 from Thursday’s close of 3.0844/0870 and strengthened against the Yen to 3.8490/8527 from 3.8559/8604 yesterday.
The local unit eased against the British pound to 5.4372/4419 from 5.4246/4292 yesterday and edged up against the Euro to 4.7787/7838 from 4.7843/7885 on Thursday. — Bernama