By Siti Noor Afera Abu<\/p>\n\n\n\n
KUALA LUMPUR, Sept 14 (NNN-Bernama) — The Malaysian ringgit slipped further to a fresh 24-year low against the US dollar at the opening on Wednesday, in line with lower oil prices as more investors shifted towards safe-haven assets.<\/p>\n\n\n\n
At 9.05 am, the local currency slid to 4.5200\/5220 against the greenback from 4.5070\/5085 at yesterday\u2019s close.<\/p>\n\n\n\n
ActivTrades trader Dyogenes Rodrigues Diniz said the United States (US) Consumer Price Index (CPI) data showed higher-than-expected inflation at 8.3 per cent, versus the forecast of 8.1 per cent.<\/p>\n\n\n\n
\u201cThis higher reading left investors wondering about how big an interest rate hike we could see at the next Federal Reserve meeting on Sept 21.<\/p>\n\n\n\n
\u201cPrior to the release of the CPI data, the market was predicting a 0.5 – 0.75 increase, but now many have raised their forecast to a 0.75-1.0 per cent hike,\u201d he told Bernama.<\/p>\n\n\n\n
Diniz said the markets had responded strongly to the data, resulting in another strong appreciation of the US dollar against other currencies.<\/p>\n\n\n\n
He also noted that oil benchmark Brent crude price fell by 0.08 per cent to US$93.10 per barrel.<\/p>\n\n\n\n
On Tuesday, Finance Minister Tengku Zafrul Tengku Abdul Aziz was reported as saying that Malaysia is not experiencing an economic crisis just because the ringgit is trading at a low level against the greenback.<\/p>\n\n\n\n
He explained that the ringgit\u2019s performance should be viewed holistically, not just in comparison with the US dollar, as the local note has also strengthened against other currencies.<\/p>\n\n\n\n
Meanwhile, the ringgit was traded higher against a basket of major currencies.<\/p>\n\n\n\n
The local unit rose against the Singapore dollar to 3.2153\/2174 from Tuesday\u2019s close of 3.2320\/2333 and appreciated against the Japanese yen to 3.1282\/1301 from 3.1690\/1703.<\/p>\n\n\n\n
It had also advanced against the British pound at 5.1989\/2012 from 5.2768\/2786 yesterday and increased against the euro to 4.5105\/5125 from 4.5818\/5833 previously.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Siti Noor Afera Abu KUALA LUMPUR, Sept 14 (NNN-Bernama) — The Malaysian ringgit slipped further to a fresh 24-year low against the US dollar at the opening on Wednesday, in line with lower oil prices as more investors shifted towards safe-haven assets. At 9.05 am, the local currency slid to 4.5200\/5220 against the greenback […]<\/p>\n","protected":false},"author":30,"featured_media":147241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191170"}],"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\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=191170"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191170\/revisions"}],"predecessor-version":[{"id":191173,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191170\/revisions\/191173"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/147241"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=191170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=191170"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=191170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}