Malaysian Ringgit Opens Lower In Early Trade

KUALA LUMPUR, Oct 27 (Bernama) -- Malaysia's ringgit opened lower against the US dollar Thursday as the greenback firmed on an increase in sentiment over a possible interest rates hike by the Federal Reserve (Fed), a dealer said. At 9.05 am, the local unit was quoted at 4.1740/1800 against the US dollar from Wednesday's close of 4.1590/1650. A dealer said the local currency was also dampened by negative sentiment brought on by weaker oil prices following uncertainty over the ability of oil producing countries to cut production. The ringgit also traded lower against other major currencies in early trade Thursday, except for the Japanese yen. It fell against the Singapore dollar to 2.9988/0035 from 2.9936/9983 on Wednesday, slipped against the British pound at 5.1015/1105 from 5.0777/0867 and declined against the euro to 4.5505/5575 from 4.5429/5507. The ringgit was higher against the yen at 3.9916/9992 from 3.9929/9990. -- BERNAMA