Monday, 03 Aug 2020 09:46 AM MYTKUALA LUMPUR, Aug 3 — The ringgit opened lower against the US dollar today but mostly higher against a basket of currencies backed by supportive demand among investors following the government's move to extend loan moratorium to give a breather to those who have lost their jobs.
At 9am, the ringgit stood at 4.2400/2460 against the US dollar from 4.2380/2420 recorded at 6pm on Thursday.The local currency was lower versus the greenback after the US Federal Reserve repeated its pledge to limit the damage from Covid-19 pandemic after a surge of new cases hampers the progress of the economic recovery.
Meanwhile, the ringgit was also tracking the lower oil price which is trading at US$43.32 per barrel, down by 0.46 per cent.However, versus the Singapore dollar, it rose to 3.0796/0851 from 3.0806/0849 and increased to 3.9917/9977 from 4.0350/0400 when compared with the yen.
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