KUALA LUMPUR: The ringgit continued its slide to open lower against the US dollar today on the back of the additional strength of the greenback in the midst of worries about the worsening trade war between the US and China, dealers said.
According to BERNAMA, at 9 am, at the close of Wednesday, the local note dropped to 4.1930/1980 against the greenback compared to 4.1920/1960.
A dealer said the fear of the trade war has spurred sales in emerging markets while, at the same time, the impact of the slowdown in global growth continues to be priced on emerging markets, including Malaysia, a small, highly open economy.
Meanwhile, the ringgit traded on a basket of major currencies mostly higher.
It appreciated 3.8275/8331 against the Japanese yen from 3.8353/8400 and reinforced 5.2932/3000 against the British pound from 5.2991/3050.
The local note improved from 4.6758/6819 to 4.6710/6770 against the euro but dropped from Wednesday’s 3.0317/0357 against the Singapore dollar to 3.0373/0420.