Ringgit opens lower as US$ strengthens

KUALA LUMPUR: The ringgit opened lower against the US dollar this morning as the greenback strengthened following the US Federal Open Market Committee (FOMC) minutes which showed that the Federal Reserve (Fed) is committed to raising interest rates after the pause in June, said an economist.

At 9 am, the local unit fell to 4.6630/6670 versus the US dollar compared with 4.6485/6555 at Wednesday’s close.