KUALA LUMPUR: The ringgit opened lower against the US dollar and a basket of major currencies today as oil prices continued their downtrend in the global market on worries of oversupply in US crude inventories, dealers said. At 9 am, the ringgit was quoted at 4.1900/1950 against the greenback from 4.1850/1900 on Thursday. FXTM Vice President of Market Research Jameel Ahmad said oil prices would have a further negative impact if Donald Trump wins the US Presidential election next week. Brent crude was 1.09 per cent lower at US$46.35 a barrel while US crude fell 1.50 per cent to US$44.66 a barrel. The ringgit also traded lower against the British pound at 5.2283/2349 from Thursday’s 5.1722/1805 and slipped against the euro to 4.6517/6590 from 4.6428/6496 previously.

Source: New Strait Times November 04, 2016 01:42 UTC