THE ringgit opened lower against the US dollar in the early session today as the greenback remained firm following the release of the United States (US) Producer Price Index (PPI).

At 9am, the local note fell to 4.4735/4790 versus the US dollar from yesterday’s closing rate of  4.4615/4665. 

ActivTrades trader, Dyogenes Rodrigues said as the PPI measures inflation at the beginning of the production chain, it is used as a way to gauge final consumer inflation, which in turn is measured by the Consumer Price Index (CPI). – Bernama, May 12, 2023.