Ringgit Continues to Decline Against US Dollar

Posted on: 2015-08-18


KUALA LUMPUR: The ringgit opened lower against the US dollar on Tuesday on relentless low risk appetite for the domestic currency, a trader said. At 9.15am, the ringgit was quoted at 4.1120/1200 against the greenback from 4.1020/1110 at 5pm yesterday. 'While external factors will continue to play a major role in determining the direction of Asian currencies, the ringgit has shown little sign of consolidating as spot rates begin to be quoted in a narrower spread,' said the trader. The ringgit was traded mixed against a basket of major currencies this morning. It depreciated further against the Singapore dollar to 2.9184/9245 from 2.9117/9202 on Monday and was traded lower against the yen at 3.3039/3116 from 3.2953/3028. The local unit rebounded against the pound sterling to 6.4073/4214 from 6.4200/4358 and edged up against the euro to 4.5540/5637 from 4.5565/5677.--BERNAMA



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Source From: http://www.nst.com.my/node/96632

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