Ringgit flat against US dollar
KUALA LUMPUR, April 12 — The ringgit was flat against the US dollar today as risk-off mode was prevalent, mainly due to the disappointing February Industrial Production Index data, along with the International Monetary Fund’s recent downgrade of its global growth forecast.
According to statistics released by the Department of Statistics yesterday, the February IPI grew 1.7 per cent year-on-year, registering the slowest growth since June 2018. “Additionally, the European Central Bank and the Fed are concerned about the downside risks, especially with regards to trade protectionists policies,” he told Bernama today.
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