Ringgit opens lower in early trade

The ringgit was lower in early Thursday trade on the back of firm demand for the US dollar, said dealers.

At 9.07am, the ringgit was quoted at 3.1940/1970 against the greenback compared to yesterday's 3.1820/1850.

A dealer said the stronger greenback was driven by hints of stimulus tapering from the US Federal Reserve's October meeting.

The Fed is next scheduled to gather on December 17-18.

The ringgit is expected to trade between 3.1800-3.2100 today.

Meanwhile, the ringgit was mixed against other major currencies.

The local unit was lower against the Singapore dollar at 2.5595/5621 from Wednesday's 2.5577/5617, but sharply higher against the Japanese yen at 3.1775/1814 from 3.1833/1876.

The ringgit eased against the British pound to 5.1379/1440 from
the 5.1354/1415 recorded yesterday, but strengthened against the euro at 4.2883/2929 from 4.3072/3119 previously