April 16, 2024

New Malaysia Times

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Ringgit opens lower vs US dollar, rose vis-a-vis the euro

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KUALA LUMPUR, Oct 28 — The ringgit opened lower against the US dollar today as mixed  United States (US) economic data continued to support the greenback.

At 9 am, the local currency slid to 4.7220/7250 against the greenback from Thursday’s close of 4.7155/7185.

ActivTrades trader Dyogenes Rodrigues Diniz said despite the US gross domestic product (GDP) growing by 2.6 per cent year-on-year in the third quarter of 2022 (Q3 2022), its Core Durable Goods for the month of September came in at -0.5 per cent, below the expectation of 0.2 per cent.

Meanwhile, the European Central Bank raised its interest rate by a further 75 basis points to 1.5 per cent, the highest rate since 2009. 

ringgit

At home, the ringgit was traded mostly lower against a basket of major currencies.

The local note slipped against the British pound to 5.4558/4593 from 5.4516/4551 at Thursday’s close, eased versus the Singapore dollar to 3.3494/3520 from 3.3448/3472 yesterday and depreciated against the Japanese yen at 3.2208/2231 from 3.2194/2219 previously.

However, it rose vis-a-vis the euro to 4.7064/7094 from 4.7334/7364 on Thursday.

NMT as reported by Bernama