KUALA LUMPUR, May 4 — The ringgit was lower against the US dollar in the early session today on weaker demand for the local note as buying sentiment was hampered by the declining global oil price.
At 9.45am, the local unit was quoted at 4.3400/3520 against the greenback from 4.2950/2050 recorded last Thursday.
A dealer said market sentiment towards the ringgit was affected as the oil price fell on worries that the global oil glut could persist as US-China trade tension was seen to hold back an economic recovery.
US West Texas Intermediate (WTI) crude futures declined 7.6 per cent to US$18.27 per barrel while Brent crude slid 3.4 per cent to US$25.54 per barrel.
Meanwhile, the ringgit was traded lower against other major currencies.
It depreciated against the Singapore dollar to 3.0596/0691 from 3.0461/0543, weakened against the yen to 4.0652/0772 from 4.0253/0358.
It fell against the pound to 5.4076/4235 from 5.3675/3808 and was lower against the euro at 4.7527/7672 from 4.6639/6765.
— Bernama
