The ringgit opened marginally lower against the US dollar today as investors remained cautious ahead of the presentation of the recalibrated Budget 2016 by Prime Minister Najb Abdul Razak later in the afternoon, dealers said.
At 9 am, the local unit was traded at 4.2570/2630 from 4.2530/2600 against the greenback on Wednesday.
A dealer said the US dollar weakened against a basket of major currencies attributed in part to the US Federal Reserve’s decision to keep its key interest rate unchanged, as widely expected.
The Fed also noted that it is “monitoring global economic and financial developments”.
The ringgit, meanwhile,traded mostly higher against other major currencies.
It rose against the Singapore dollar to 2.9724/9786 from 2.9779/9849 on Tuesday.
It was better against the yen at 3.5885/5950 from 3.5972/5035 yesterday.
The local note appreciated against the British pound to 6.0654/0756 from 6.0848/0965, but fell against the euro to 4.6372/6450 from 4.6209/6302.