KUALA LUMPUR, June 20 (NNN-Bernama) — The Malaysian ringgit extended its losses when it opened lower against the US dollar Tuesday amid weaker market sentiment on the local currency, an economist said.<\/p>\n\n\n\n
At 9 am, the local note slipped to 4.6325\/6385 against the greenback from 4.6265\/6350 at Monday’s close.<\/p>\n\n\n\n
Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said the ringgit also weakened against the British pound and euro following a hawkish stand at the Bank of England and the European Central Bank.<\/p>\n\n\n\n
“The external environment looks increasingly wobbly as major central banks remain adamant in their resolve to lower inflation.<\/p>\n\n\n\n
“On that note, USD\/MYR is expected to linger around 4.62 in light of weak market sentiments,” he said.<\/p>\n\n\n\n
Meanwhile, the ringgit was traded lower against a basket of major currencies.<\/p>\n\n\n\n
It depreciated versus the British pound to 5.9296\/9373 from 5.9242\/9351 on Monday, fell against the Japanese yen to 3.2598\/2643 from 3.2588\/2650 and weakened vis-a-vis the euro to 5.0582\/0648 from 5.0470\/0563 previously.<\/p>\n\n\n\n
Similarly, the local note traded lower against other ASEAN currencies.<\/p>\n\n\n\n
The ringgit declined against the Thai baht to 13.3152\/3378 from Monday\u2019s 13.2926\/3236 and went down against the Singapore dollar to 3.4540\/4590 against 3.4490\/4556.<\/p>\n\n\n\n
It was lower versus the Indonesian rupiah at 308.9\/309.4 from 308.5\/309.2 and dropped against the Philippine peso to 8.31\/8.33 from 8.30\/8.32.<\/p>\n\n\n\n
\u00a0— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, June 20 (NNN-Bernama) — The Malaysian ringgit extended its losses when it opened lower against the US dollar Tuesday amid weaker market sentiment on the local currency, an economist said. At 9 am, the local note slipped to 4.6325\/6385 against the greenback from 4.6265\/6350 at Monday’s close. Bank Muamalat Malaysia Bhd chief economist […]<\/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\/225623"}],"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=225623"}],"version-history":[{"count":1,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/225623\/revisions"}],"predecessor-version":[{"id":225624,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/225623\/revisions\/225624"}],"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=225623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=225623"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=225623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}