The Ringgit opens at 4.1670/1700 compared with 4.1620/1670 against the greenback.
KUALA LUMPUR: The ringgit opened lower against the US dollar in early session today as investors stayed on the sidelines for firmer policies by the government to face global economic headwinds.A dealer said analysts had predicted that the first quarter Gross Domestic Product figures to be announced on Thursday would show a slowdown, with the unemployment rate reaching the highest since January 2017.
“Both employment and labour force grew 2.1% year-on-year in March 2019 to 15.0 million and 15.6 million respectively, maintaining the pace in February 2019, while the number of unemployed increased by 2.5% y-o-y to 521,300 in March 2019 compared with 1.6% y-o-y in February, in turn pushing up unemployment rate .
“As the tension escalates, businesses and trade will be affected negatively. However, the scenario will also make US and Chinese companies to recalibrate its operations and Malaysia has the capabilities in terms of attracting these businesses,” he said.
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