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Ringgit slips at open due to market jitters on coronavirus

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Oil price also declines as demand for renewable energy rises. FMTNews Ringgit

KUALA LUMPUR: The ringgit extended yesterday’s loss to open lower today due to market jitters about the outbreak of coronavirus in China and the first confirmed case in the United States.

Rakuten in its daily market report said global markets were on a cautious mode on news of the continued spread of the highly contagious virus which has reached US shores. Besides the viral outbreak of the virus, the oil price has also declined to US$64.48 from its peak of US$71 per-barrel recorded earlier this month as demand for renewable energy rises.

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