Business

Ringgit opens lower against US dollar on profit taking

KUALA LUMPUR, Nov 28 ― The ringgit slipped against the US dollar at the opening today after three trading days on profit taking activity despite the positive sentiment around Asian markets, dealers said.

At 9am, the local unit was traded at 3.0475/0510 against the greenback compared with 3.0440/0460 yesterday.

On the regional market, a dealer said investors' relief over the new debt target for Greece turned to unease over the looming US fiscal crisis.

Back home, the ringgit was traded mostly lower versus other major regional currencies.

It weakened against the Japanese yen to 3.7101/7148 from yesterday's 3.7018/7051 and declined against the Singapore dollar to 2.4916/4949 from 2.4910/4935.

The domestic unit also depreciated against the British pound to 4.8803/8868 from 4.8786/8830 yesterday, but strengthened against the euro to 3.9429/9477 from 3.9502/9531. ― Bernama

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