KUALA LUMPUR, Feb 28 — The ringgit extended losses to open lower against the US dollar today, as more investors shifted interest towards safe-haven currencies and after new US Federal Reserve Chair, Jerome Powel, hinted at further interest rate hikes this year, dealers said.
At 9.15am, the local note was quoted at 3.9250/9280 versus the greenback from 3.9060/9100 yesterday.
The ringgit, meanwhile, traded mostly lower against a basket of major currencies.
It depreciated against the Singapore dollar to 2.9629/9663 from yesterday’s 2.9613/9646, slipped against the British pound to 5.4585/4631 from 5.4500/4560 and declined against the yen to 3.6597/6628 from 3.6488/6539.
It, however, appreciated against the euro to 4.8022/8075 from 4.8161/8222. — Bernama
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