By Rosemarie Khoo Mohd Sani<\/p>\n\n\n\n
KUALA LUMPUR, Sept 15 (NNN-Bernama) — The Malaysian ringgit continued to weaken against the US dollar, breaching the 4.53 level which is by far the lowest since the Asian Financial Crisis (AFC), said an analyst.<\/p>\n\n\n\n
At 6 pm, the local currency dipped to 4.5340\/5365 against the greenback from 4.5265\/5285 at Wednesday\u2019s close.<\/p>\n\n\n\n
The analyst said with no new catalyst to boost the ringgit\u2019s attraction, investors are keeping their focus mainly on the greenback and other safe-haven assets.<\/p>\n\n\n\n
\u201cOn the other hand, although the ringgit is trading lower against the US dollar, Malaysia\u2019s economy remains intact and is not experiencing a crisis, as stated by Finance Minister Tengku Zafrul Tengku Abdul Aziz recently,\u201d she told Bernama.<\/p>\n\n\n\n
Another expert, ActivTrades\u2019s market analyst Alexander Londono said the firmer US dollar was due to the rising inflation expectations.<\/p>\n\n\n\n
He also said that the drop in the Bursa Malaysia is also weighing on the local currency.<\/p>\n\n\n\n
At the close, the FBM KLCI eased by 1.13 points to 1,467.31 today from Wednesday’s close of 1,468.44.<\/p>\n\n\n\n
\u201cOn the external front, if the retail sales from the United States show a better-than-expected reading, then the US dollar could keep rising and the ringgit-US dollar could keep falling as a result,\u201d said Londono.<\/p>\n\n\n\n
Meanwhile, the ringgit was traded mixed against a basket of major currencies.<\/p>\n\n\n\n
The ringgit increased against the British pound at 5.2214\/2242 from 5.2331\/2354 at Wednesday\u2019s close and rose versus the Singapore dollar to 3.2238\/2261 from 3.2252\/2268 previously.<\/p>\n\n\n\n
However, the local note went down against the euro to 4.5317\/5342 from 4.5306\/5326 yesterday and declined against the Japanese yen to 3.1647\/1666 from 3.1616\/1635 on Wednesday.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Rosemarie Khoo Mohd Sani KUALA LUMPUR, Sept 15 (NNN-Bernama) — The Malaysian ringgit continued to weaken against the US dollar, breaching the 4.53 level which is by far the lowest since the Asian Financial Crisis (AFC), said an analyst. At 6 pm, the local currency dipped to 4.5340\/5365 against the greenback from 4.5265\/5285 at […]<\/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\/191489"}],"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=191489"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191489\/revisions"}],"predecessor-version":[{"id":191490,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/191489\/revisions\/191490"}],"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=191489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=191489"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=191489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}