The currency’s correction mode following a sharp downtrend is likely to be short-lived, says analyst.
KUALA LUMPUR: The ringgit strengthened against the world’s major currencies at the end of trading today as its correction continued.
As such, Afzanizam said market participants will continue to pay close attention to the development in the Middle East.“This is following reports that for the first time, Chinese developer, Country Garden has failed to pay interest on its US dollar bond within a grace period that ended last week,” he added.
S&P Global Manufacturing Purchasing Managers’ Index for the US rose to 50 in October 2023, an improvement from September’s 49.8, showing economic resilience, consequently boosting the greenback.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ringgit extends fall against greenback as US 10-year Treasury yield hits 5%Blackpink sensation Lisa has once again set her fans’ hearts aflutter with new posts on her Instagram this weekend of her hot and sexy photos in a colourful bikini.
Read more »
Bank Negara to ensure ringgit adjusts in orderly manner, says governorKUALA LUMPUR, Oct 23 — Bank Negara Malaysia (BNM) will do whatever is necessary to ensure the ringgit continues to adjust in an orderly manner, which allows businesses to be...
Read more »
Ringgit ends lower as US 10-year treasury yield hits 5%The local currency continues to remain weak as investors worry about Middle East conflict, says analyst.
Read more »
Ringgit extends fall against greenback as US 10-year treasury yield hits 5pcKUALA LUMPUR, Oct 23 — The ringgit extended its decline to close lower against the US dollar on Monday as the 10-year US Treasury yield hit 5 per cent while geopolitical tension...
Read more »
No crisis despite ringgit hitting new low against US dollar since AFC: BNM governorKUALA LUMPUR: Despite the ringgit’s decline to its lowest level against the strong US dollar since the Asian Financial Crisis (AFC) in 1997, Malaysia ...
Read more »
Ringgit extends fall against greenback as US 10-year treasury yield hits 5 pctKUALA LUMPUR: The ringgit extended its decline to close lower against the US dollar on Monday as the 10-year US Treasury yield hit 5 per cent while ge...
Read more »