Ringgit opens lower against US$ Monday Feb 29

KUALA LUMPUR: The ringgit opened lower against the US dollar Monday morning on weak demand for the local unit, dealers said.

At 9.02 am(0102GMT), the ringgit traded at 4.2200/2280 to the US dollar from 4.2010/2070 on last Friday.

A dealer said the local note is still in subdued mode due to the possibility of an interest rate hike by the US Federal Reserve anytime soon.

Meanwhile, the local note was traded higher against other major currencies.
It improved against the Singapore dollar to 2.9906/9979 from Friday’s 2.9996/9056 and rose against the yen to 3.7154/7241 from 3.7236/7299.

The ringgit appreciated against the euro to 4.6099/6195 from 4.6417/6500 and against the British pound improved to 5.8477/8613 from 5.8747/8856.- BERNAMA



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