Ringgit lower against US dollar in early trade

By Bernama - February 14, 2020 @ 10:09am

KUALA LUMPUR: The ringgit opened lower against the US dollar in early trade today on weak buying interest due to weaker-than-expected fourth-quarter 2019 gross domestic product (GDP) results.

At 9.26am, the ringgit was quoted at 4.1410/1450 against the greenback from 4.1390/1420 at yesterday’s close.

A dealer said investors’ interest has shifted away from the local note as Malaysia’s Q4 2019 GDP performance was lower than the market had anticipated - at 3.6 per cent compared with 4.7 per cent in Q4 2018.

Meanwhile, the ringgit was traded mostly higher against other major currencies, except the British pound, against which it fell to 5.4011/4067 from 5.3683/3730 yesterday.

The local note rose against the Singapore dollar to 2.9800/9839 from 2.9824/9852 yesterday; appreciated vis-a-vis the Japanese yen to 3.7714/7754 from 3.7716/7747; and rose against the euro to 4.4859/4919 from 4.5041/5082 previously. - Bernama