KUALA LUMPUR: The ringgit opened slightly lower against the greenback on a lack of buying interest despite a 50 basis points US interest rate cut decision by the US Federal Reserve (Fed).

At 8.05 am, the local note eased to 4.2430/2600 versus the greenback from Wednesday's close of 4.2410/2460.

At last night's Federal Open Market Committee (FOMC) meeting, the Fed made a move to reduce the interest rate from 5.25 per cent - 5.50 per cent to 4.75 per cent - 5.00 per cent, said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid.