KUALA LUMPUR: The ringgit opened lower against the US dollar on Friday on the back of falling oil costs.
At 9am, the ringgit was cited at 4.1450/1500 against the greenback from 4.1220/1270 on Thursday.
A merchant said financial specialists addressed if individuals from the Organization of the Petroleum Exporting Countries (OPEC) would remain by the proposition to cut oil yield in the formal meeting in Vienna in November this year.
They likewise questioned if the proposition would have much effect on the raw petroleum market oversupply, he said.
Amid the casual meeting that closed in Algeria on Sept 29, the OPEC individuals proposed to decrease unrefined petroleum generation to between 32.5 million and 33 million barrels a day, from the current 33.2 million barrels a day.
Distrust over the arrangement drove the overnight benchmark Brent raw petroleum costs to fall eight pennies to US$49.16 a barrel, while US West Texas Intermediate raw petroleum costs went down eight pennies to US$47.75 a barrel.
In the interim, the neighborhood note likewise exchanged lower against a wicker container of significant monetary standards.
It fell against the British pound to 5.3690/3767 from Thursday's end of 5.3574/3647 and declined against the yen to 4.0983/1048 from 4.0647/0708.
The ringgit additionally facilitated against the Singapore dollar to 3.0333/0376 from 3.0227/0274 while debilitating against the euro to 4.6441/6505 from 4.6228/6288 yesterday.
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