News & Articles Ringgit opens lower on weaker oil price
Ringgit opens lower on weaker oil price
16 Mar 2016
The ringgit opened lower for the third consecutive day dampened by weaker oil price, dealers said.
At 9am, the ringgit was quoted at 4.1400/1450 versus the US dollar from 4.1315/1355 yesterday.
A dealer said oil price continued to retreat after a month-long rally as oversupply issue resurfaced.
He said Brent crude, the global benchmark, fell 79 cents, or two percent, to US$38.74 a barrel on Tuesday.
Meanwhile, the ringgit was mixed against other major currencies. It was lower against the Singapore dollar at 2.9980/0025 from Tuesday's 2.9958/0002 but strengthened against the yen to 3.6537/6591 from 3.6555/6601 yesterday.
The local unit appreciated against the British pound to 5.8552/8635 from yesterday's 5.8800/8869 but eased against the euro to 4.5983/6043 from 4.5897/5958 on Tuesday.
At 9am, the ringgit was quoted at 4.1400/1450 versus the US dollar from 4.1315/1355 yesterday.
A dealer said oil price continued to retreat after a month-long rally as oversupply issue resurfaced.
He said Brent crude, the global benchmark, fell 79 cents, or two percent, to US$38.74 a barrel on Tuesday.
Meanwhile, the ringgit was mixed against other major currencies. It was lower against the Singapore dollar at 2.9980/0025 from Tuesday's 2.9958/0002 but strengthened against the yen to 3.6537/6591 from 3.6555/6601 yesterday.
The local unit appreciated against the British pound to 5.8552/8635 from yesterday's 5.8800/8869 but eased against the euro to 4.5983/6043 from 4.5897/5958 on Tuesday.
Source: Bernama