Ringgit retreats against dollar at opening

THE ringgit retreated from its gains yesterday to open lower against the US dollar as the greenback regained its strength amidst the turbulence at Credit Suisse, triggering fears of a banking crisis, said an analyst.  

At 9am, the local note slipped to 4.5050/5115 versus the greenback from yesterday’s closing rate of 4.4810/4870.