Ringgit opens lower against US dollar

The ringgit opened lower against the US dollar on lack of demand for the local currency, said dealers.

At 9.11am, the ringgit was quoted at 3.2255/2285 versus the US dollar from 3.2230/2260 yesterday.

A dealer said the greenback maintained its bullish tone overnight after fears of the US Federal Reserve winding down its stimulus exercise tapered off following good data released yesterday.

The US private-sector hiring data rose in November at the fastest clip in a year, the services industry expanded at a decent pace last month and exports hit a record high in October.

The US housing market posted their largest increase in nearly thirty three and-a-half years.

Back home, the ringgit also fell against a basket of currencies.

The local unit slipped against the yen to 3.1530/1575 from 3.1405/1446 yesterday and dipped against the Singapore dollar to 2.5707/5733 from 2.5681/5713 on Wednesday.

The local currency declined against the British pound to 5.2814/2876 from 5.2774/2826 yesterday and eased against the euro to 4.3812/3859 from 4.3768/3819 on Wednesday.-