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[RINGGIT] The ringgit opened lower

The ringgit opened lower against the US dollar today, reversing yesterday's trend on weaker demand due to renewed concerns over low oil prices.

At 9.28am, the local unit was quoted at 4.3030/3100 against the greenback from 4.2980/3030 recorded yesterday.

A dealer said traders were worried that the persistently weak oil prices would impact the economy's oil and gas revenue.

Meanwhile, the ringgit traded mostly lower against other major currencies.

It declined against the Singapore dollar to 3.0629/0691 from 3.0602/0657 and weakened against the yen to 3.5556/5629 from 3.5521/5568 yesterday.

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