KUALA LUMPUR, Dec 1 (Bernama) -- The ringgit opened lower against the U.S. dollar Monday amid weakening demand for riskier assets and higher-yielding currencies, dealers said.
At 9am, the ringgit was traded at 3.6255/6285 from 3.6210/6260 recorded last Friday.
In view of gloomy global financial markets, a dealer said investors are looking to reduce their holdings.
There is still some buying in the market, but it is not aggressive.
However, the ringgit was traded mostly higher against other major currencies.
It rose against the Singapore dollar at 2.3898/3939 from last Friday's 2.4010/4064 but it was lower against the yen at 3.8035/8082 from 3.8000/8068 previously.
Against the British pound, the ringgit strengthened at 5.5575/5647 from 5.5782/5877 last Friday as well as against the euro at 4.5906/5948 from 4.6772/6862 previously.
-- BERNAMA
source
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