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Ringgit extends lower at opening

28 Oct 2020 / 11:08 H.

KUALA LUMPUR: The ringgit extended its fall against the US dollar at the opening today despite an overnight greenback retracement with the focus back to the sliding crude oil prices and worries over the increasing number of Covid-19 cases globally.

At 9.05am, the local currency eased to 4.1650/1720 versus the greenback compared with 4.1640/1680 at yesterday’s close.

The dealer said the uncertainty lingering around the US presidential election and economy dragged the US dollar to fall.

As at the time of writing, the benchmark Brent crude fell 1.63 per cent to US$40.53 per barrel.

Meanwhile, the ringgit was traded mostly lower against other major currencies.

It slipped against the Singapore dollar to 3.0600/0656 from Tuesday’s close of 3.0595/0636, eased against the British pound to 5.4262/4357 from 5.4224/4288 and decreased versus the yen to 3.9853/9931 from 3.9801/9847.

However, the local note rose against the euro to 4.9051/9150 from 4.9169/9220.-Bernama

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