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Ringgit slides further against US dollar in early trade

The ringgit opened lower against the US dollar in early trade today on renewed concerns over the instability of China's and regional economies, a dealer said.

At 9am, the ringgit eased to 4.4600/4690 against the greenback from 4.4160/4240 at 5pm yesterday.

The local note hit a 17-year low yesterday as foreign investors continued to offload ringgit assets.

The ringgit was traded lower against a basket of major currencies.

It fell against the Singapore dollar to 3.1130/1204 from 3.0916/0976 yesterday. It was traded lower against the yen at 3.7269/7360 from 3.6711/6793 yesterday.

The local note eased against the euro to 5.0157/0263 from 4.9371/9469 yesterday and was easier against the pound sterling to 6.7627/7768 from 6.7238/7382 previously.

- Bernama


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