Ringgit lower against US dollar

KUALA LUMPUR: The ringgit was traded weaker against the US dollar this morning on risk aversion, dealers said.

At 9.23am, the ringgit was quoted at 3.0660/0700 from 3.0545/0575 at 5pm on Tuesday.

Investors continued to stock up on the dollar as continuous political uncertainties in Greece intensified fears.

Market sentiment was fuelled by jitters that Greece could reject its existing bailout and exit the euro zone which weighed heavily on market sentiment, said one dealer.

The greenback strengthened following news of a possible mass downgrade of European sovereign credit ratings within the week.

Meanwhile, the ringgit depreciated against the Singapore dollar to 2.4520/4568 from Tuesday's 2.4473/4517 and declined against the yen to 4.8368/8428 from 4.8229/8281 yesterday.

The local currency also fell against the British pound to 4.9470/9544 from 4.9278/9336 on Tuesday and slipped against the euro to 3.9784/9839 from 3.9748/9790 previously. - Bernama