Ringgit opens lower against the US dollar | Money
KUALA LUMPUR, November 26 – The ringgit slipped further to open lower against the US dollar today as the greenback continues to rally amid the release of initial jobless claims data, which has helped the US currency to gain relative to its counterparts.
At 9am, the local note eased to 4.2325 / 2365 against the greenback at 4.2295 / 2300 at yesterday’s close.
ActivTrades trader Dyogenes Rodrigues Diniz said analysts predict a possible 0.75% increase in the US interest rate in 2022 and that the market has already started to take this into account.
On the domestic front, he said the upcoming release of Consumer Price Index (CPI) data by Malaysia’s Department of Statistics (DoSM) would likely provide guidance for the local currency against the US dollar.
âIf the data is lower than expected, it could cause an acceleration in the movement of the US dollar against the ringgit which will likely hit the RM 4.2400 region,â he told Bernama.
At the opening, the local banknote was exchanged in a mixed way against a basket of major currencies.
It rose against the British pound at 5.6330 / 6384 from 5.6392 / 6399 at yesterday’s close and appreciated against the Singapore dollar at 3.0921 / 0953 from 3.0933 / 094.
However, the ringgit fell against the Japanese yen to 3.6820 / 6858 from 3.6667 / 6674 yesterday and slipped against the euro to 4.7467 / 7512 against 4.7463 / 7469. Bernama