Malaysian Ringgit Opens Slightly Lower Against US Dollar

KUALA LUMPUR, Feb 13 (Bernama) -- The Malaysian ringgit opened slightly lower against the US dollar on low demand following the further strengthening of the greenback, dealers said. At 9 am, the local unit was traded at 4.4450/4500 against the US dollar from Friday's close of 4.4420/4470. A dealer said the US dollar was higher following a smooth outcome of the US-Japan summit held over the weekend. The two-day meeting discussed issues including trade, currency and security matters between both countries. "Following the meeting, the US dollar rose 15 per cent against other major currencies on demand by traders, hence a weakening ringgit," the dealer said. However, versus other currencies, the local note was traded higher. It rose against the Singapore dollar to 3.1206/1259 from 3.1235/1277 and vis-a-vis the Japanese yen, it increased to 3.9022/9069 from 3.9081/9129 last Friday. The ringgit appreciated versus the British pound to 5.5487/5576 from 5.5516/5588 and improved to 4.7215/7272 from 4.7263/7334 against the euro previously. --BERNAMA