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Ringgit opens marginally lower against greenback

The ringgit opened marginally lower against the greenback today, on the back of weaker crude oil prices in early trade, said dealers.

At 9am, the local unit slid to 4.4780/4820 against the US dollar from Monday's close of 4.4760/4810.

A dealer said the benchmark Brent Crude oil price had a slight downward trajectory at US$55.93 per barrel, while West Texas Intermediate was lower at US$53.76 per barrel.

On the current state of crude oil prices, RHB Research said in a note traders were prompted to maintain long positions, as market strength remained encouraging.

The ringgit traded mixed against other major currencies.

It depreciated against the Singapore dollar to 3.0904/0949 from Monday's 3.0895/0946, strengthened against the yen to 3.8062/8112 from 3.8168/8214 and declined against the British pound to 5.5017/5079 from 5.4921/4995.

However, the local note trimmed vis-a-vis the euro to 4.6853/6900 from 4.6770/6831.

- Bernama

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