KUALA LUMPUR: The ringgit opened lower against the US dollar on Friday as foreign banks continued to offload the currency, a trader said.
At 9.02 am, the ringgit was quoted at 3.9155/9185 against the greenback from 3.9005/9035 at 5 pm yesterday.
"The ringgit breached the 3.9000 per dollar for the first time since the Asian financial crisis 17 years ago, pressured by lack of domestic leads and falling commodity prices, which hurt investor confidence," he said.
The ringgit traded lower against most other major currencies.
It depreciated against the Singapore dollar to 2.8259/8303 from 2.8140/8166 yesterday but was lower against the yen at 3.1387/1416 from 3.1231/1266 previously.
The ringgit eased against the pound sterling to 6.0749/0823 from 6.0871/0938 on Thursday and declined against the euro to 4.2785/2825 from 4.2461/2501 previously.