Ringgit Lower Against Greenback In Early Trade

KUALA LUMPUR, Aug 29 (Bernama) -- The ringgit opened lower against the US dollar Monday on renewed expectations of a US interest rate hike, said a dealer. At 9.24 am, the ringgit was quoted at 4.0410/4.0450 against the greenback from 4.0130/0200 last Friday. The dealer said market participants anticipate an interest rate hike as early as September, after upbeat comments by US Federal Reserve chair Janet Yellen, on the US economy. Meanwhile, the local currency traded mixed against a basket of major currencies. The ringgit rose against the euro to 4.5239/5300 from 4.5299/5414 last Friday, but fell against the Singapore dollar to 2.9689/9721 from 2.9669/9729. It strengthened against the yen to 3.9622/9672 from 3.9942/1024.But, depreciated against the British pound to 5.3014/3091 from 5.2956/3056. -- BERNAMA