KUALA LUMPUR: The ringgit depreciated further against the US dollar at the opening session on continued demand for safe-haven greenback due to rising economics uncertainties over the fast-spreading COVID-19 pandemic, dealers said.
At 9 am, the local note fell to 4.4180/4230 against the US dollar compared with yesterday’s closing of 4.4080/4120.
A dealer said the sliding ringgit was in tandem with the weaker regional emerging market currencies as the coronavirus outbreak dampened market sentiment with frightened investors pulled their money out of the vulnerable economy.
Meanwhile, against other major currencies, the ringgit traded mostly higher.
It rose slightly against the Singapore dollar at 3.0394/0440 from 3.0425/0470 at Thursday’s close, increased against the euro to 4.7109/7171 from 4.7759/7822 and rose against the Japanese Yen to 3.9741/9800 from 4.0457/0574 yesterday.
However, the ringgit depreciated against the British pound to 5.0940/1010 from 5.0848/0923. - Bernama
source https://www.thesundaily.my/business/ringgit-opens-lower-against-us-dollar-CL2159062
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