Weak 4Q GDP drags ringgit lower against US$

KUALA LUMPUR: The ringgit opened lower against the US dollar in early trade as below-than-expected fourth quarter 2019 gross domestic product (GDP) results curbed investors’ appetite for the local currency, a dealer said.

At 9 am, the ringgit was quoted at 4.1410/1440 against the greenback from 4.1350/1380 on Wednesday. Yesterday, Bank Negara Malaysia announced the economy expanded by 3.6 per cent in Q4 2019, dragging the full-year GDP growth to 4.3 per cent -- the lowest since the 2009 financial crisis amid supply disruptions in the commodity sector.