<\/p>\n\n\n\n
By Rosemarie Khoo Mohd Sani<\/p>\n\n\n\n
KUALA LUMPUR, Aug 18 (NNN-Bernama) — The ringgit opened easier versus the US dollar Wednesday on the lack of buying interest as investors\u2019 sentiment remained cautious amidst the uncertainties due to the local political development.<\/p>\n\n\n\n
At 9 am, the local note stood at 4.2400\/2440 against the greenback from Tuesday’s close of 4.2370\/2380.<\/p>\n\n\n\n
An analyst told Bernama that investors also prefer the safe-haven US dollar as China\u2019s July retail sales, industrial production and urban investment data had weakened, while COVID-19 wreaks havoc across the region.<\/p>\n\n\n\n
Meanwhile, Bloomberg reported that the nation\u2019s continuing leadership crisis could be the start of a much deeper plunge if the currency fails to climb back above its Aug 5, 2021 peak of 4.2105 against the US dollar.<\/p>\n\n\n\n
\u201cThe currency, which surged as much as 11 per cent between March 2020 and January 2021, has already halved its gains as the coronavirus outbreak worsened.<\/p>\n\n\n\n
\u201cThe bearish momentum could now send the currency toward its June 2020 low of 4.3457,\u201d it said.<\/p>\n\n\n\n
Meanwhile, the local note had opened higher against a basket of major currencies.<\/p>\n\n\n\n
The ringgit rose against the Singapore dollar to 3.1133\/1165 from 3.1182\/1192 at Tuesday\u2019s close and improved against the Japanese yen to 3.8718\/8758 from 3.8768\/8778 previously.<\/p>\n\n\n\n
It gained versus the British pound to 5.8253\/8308 from 5.8462\/8476 yesterday, and strengthened vis-a-vis the euro at 4.9655\/9701 compared to 4.9874\/9885 at Tuesday\u2019s close.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Rosemarie Khoo Mohd Sani KUALA LUMPUR, Aug 18 (NNN-Bernama) — The ringgit opened easier versus the US dollar Wednesday on the lack of buying interest as investors\u2019 sentiment remained cautious amidst the uncertainties due to the local political development. At 9 am, the local note stood at 4.2400\/2440 against the greenback from Tuesday’s close […]<\/p>\n","protected":false},"author":17,"featured_media":26732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/135381"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135381"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/135381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/26732"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135381"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}