KUALA LUMPUR, Oct 27 — The ringgit continued its downtrend against the US dollar today, as risk aversion sets in global markets due to Covid-19 fears, said Axi chief global market strategist, Stephen Innes. At 6pm, the local currency declined to 4.1640/1680 versus the greenback, compared with...
At 6pm, the local currency declined to 4.1640/1680 versus the greenback, compared with 4.1630/1670 at yesterday’s close. — AFP pic
At 6pm, the local currency declined to 4.1640/1680 versus the greenback, compared with 4.1630/1670 at yesterday’s close. The situation is further exacerbated by news reports stating that China would sanction three American defense contractors over proposed arms sales to Taiwan, retaliating against US’ efforts to deepen security ties with the island democracy that Beijing claims as its territory.“This is especially as market focus turns to Budget 2021, as oil revenues are a necessary support for the government coffers.
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