Ringgit opens at 4.31 against USD

The ringgit opened lower versus the US dollar today on weak demand for the local currency, dealers said.

At 9am, the ringgit was quoted at 4.3160/3250 from 4.2900/2970 on Thursday.

A dealer said the ringgit was traded lower on the first day of trading due to weak sentiment with the US monetary policy diverging to continue backing the greenback for this year.

"The dollar is set to perform better over its world peers and continue last year's trend," the dealer said.

Meanwhile, the ringgit was traded mostly higher versus other major currencies. 

Against the Singapore dollar, it strengthened to 3.0303/0387 from 3.0367/0423 on Thursday and vis-a-vis the yen it slipped to 3.5826/5916 from 3.5637/5698.

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Malaysia: Shares end lower

Malaysian shares closed lower on Monday, with the Kuala Lumpur Composite Index losing 14.81 points to 1,629.09.

Some 1.83 billion lots, valued at RM1.57 billion, were traded. Losers outnumbered gainers 521 to 352.

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Malaysia: Shares end lower

Malaysian shares closed lower on Friday, with the Kuala Lumpur Composite Index losing 8.51 points to 1,640.14.

Some 1.61 billion lots, valued at RM1.88 billion, were traded. Losers outnumbered gainers 477 to 306.

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Ringgit ends firmer versus greenback

KUALA LUMPUR: The ringgit ended on a firmer note versus the US dollar today, bolstered by commercial demand, dealers said.

At 5 pm, the local note was quoted at 4.2560/2640 against the greenback from 4.2700/2750 on Wednesday.

A dealer said despite oil prices falling for the fourth day in a row today, the ringgit was well supported from a continued buying interest and exporters' demand.

"However, concerns over the sustained global supply glut will keep the currencies of oil-producing nations under pressure," he said.

Another dealer said the ringgit might be trading in a tight range of 4.23 to 4.27 until early next week, with more reactions could be expected after the US Federal Open Market Committee meeting scheduled for Dec 15 and 16.

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Oil plunges to 7-year low

SINGAPORE: Oil prices hovered near their lowest in almost seven years in Asia Tuesday ahead of the release of US crude inventories and expectations of an increase in US interest rates.

The decision by the OPEC oil producers grouping last week to maintain its lofty production levels continues to weigh on a market already awash with supplies as traders fix their sights on other developments that could influence prices.

US benchmark West Texas Intermediate (WTI) for January delivery was up 16 cents at US$37.81 and Brent crude for January was trading 26 cents higher at US$40.99 at around 0240 GMT.

WTI fell 5.8 percent to US$37.65 in New York and Brent tumbled 5.3 percent to US$40.73 in London on Wednesday, their lowest levels since February 2009.

Analysts said Tuesday's slight rebound reflected some bargain-hunting ahead of the release on Wednesday of US commercial crude stockpiles, which will help gauge demand in the world's top oil consumer.

A Bloomberg News survey estimated inventories probably rose for an 11th week, indicating softer demand.

Traders are also closely watching a meeting of the US central bank's Federal Open Market Committee (FOMC) next week amid expectations members will announce the first interest rate hike in over nine years.

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