KUALA 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 9 am, the ringgit stood at 4.2400/2460 against the US dollar from 4.2380/2420 recorded at 6 pm on Thursday.

The market was closed on Friday for Hari Raya Aidiladha holiday.

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.

Vis-a-vis the British pound, the local note fell to 5.5421/5508 from 5.5102/5176.

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.

Against the euro, the ringgit improved to 4.9816/9891 from  4.9826/9882.


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