KUALA LUMPUR: The ringgit opened lower against the US dollar today as the greenback firmed on an increase in sentiment over a possible interest rates hike by the Federal Reserve (Fed), a dealer said. At 9.05 am, the local unit was quoted at 4.1740/1800 against the US dollar from Wednesday’s close of 4.1590/1650. A dealer said the local currency was also dampened by negative sentiment brought on by weaker oil prices following uncertainty over the ability of oil producing countries to cut production . The ringgit also traded lower against other major currencies in early trade today, except for the Japanese yen. The ringgit was higher against the yen at 3.9916/9992 from 3.9929/9990.

Source: New Strait Times October 27, 2016 01:41 UTC