RINGGIT COLLAPSES: LOCAL UNIT FALLS BELOW 4.21 LEVEL AGAINST US DOLLAR

KUALA LUMPUR – The ringgit opened lower against a rejuvenated US dollar on Monday, said a dealer.

At 9.15 am, the local unit was quoted at 4.2120/2200 against the dollar from last Friday’s close of 4.1980/2050.

A currency trader said the greenback rose on the back of upbeat US retail sales and producer prices numbers for September.

The ringgit, however, gained strength against other major currencies, except the yen.

It softened against the yen at 4.0418/0515 from last Friday’s close of 4.0230/0301.

The local note was marginally up against the Singapore dollar at 3.0243/0312 from 3.0247/0302, firmed against the British pound to 5.1214/1341 from 5.1249/1339, and strengthened to the euro at 4.6189/6293 from 4.6245/6331.

– Bernama

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