KUALA LUMPUR, Oct 22 — The ringgit ended lower on Tuesday on the continued expectation of a slower pace of US interest rate cuts, China’s cooling economy and heightened...
At 6pm, the local currency was traded at 4.3255/3305 against the greenback compared with Monday’s close of 4.3045/3100. — Reuters picKUALA LUMPUR, Oct 22 — The ringgit ended lower on Tuesday on the continued expectation of a slower pace of US interest rate cuts, China’s cooling economy and heightened geopolitical risks in the Middle East, said an analyst.
At 6pm, the local currency was traded at 4.3255/3305 against the greenback compared with Monday’s close of 4.3045/3100. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said all factors seemed to work in favour of the safe haven US dollar amid a downtrend in global interest rates.
“Despite that, Malaysia’s promising economic outlook and a strong commitment by the government to reduce the fiscal deficit would result in better assessment by the credit rating agencies. This could translate into more inflows from foreign funds,” he told Bernama. Domestically, the Malaysian economy continued to show a positive performance, with third quarter gross domestic product advance estimates indicating a 5.3 per cent growth.It edged up against the Japanese yen to 2.8668/8704 from 2.8685/8724 on Monday’s close but slipped against the euro to 4.6785/6839 from 4.6687/6746 and decreased vis-a-vis the British pound to 5.6097/6162 from 5.6040/6112 yesterday.It depreciated against the Thai baht to 12.9089/9300 from 12.
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.
Missing Boys Found Injured After Escaping Tahfiz Centre in Kuala LumpurFour boys reported missing from a religious school (Tahfiz Darun Quran Ittifaqiyah Centre) in Kuala Lumpur were found injured. Police are investigating whether the injuries occurred at the centre, as the boys admitted to running away due to unbearable conditions but their statements need corroboration. Investigations under child protection and sexual crime laws are underway.
Read more »
Illegal Parked Car Owner Issued Summons In Kuala LumpurThe owner of a car illegally parked on Jalan Sultan has been issued a summons by city traffic police after a viral video of the incident. The department emphasized their commitment to enforcing road laws and urged drivers to be more responsible.
Read more »
Rising Sun: Kuala Lumpur’s Bread Haven Makes A Triumphant ReturnSubscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates. In a plot twist with buzzing carb enthusiasts, Kuala Lumpur’s beloved Japanese bread sanctuary, Sun Moulin, has risen from its…
Read more »
Shopping ghosts of Kuala Lumpur: How the city’s once-iconic malls became relics of pastKUALA LUMPUR, Oct 8 — In their hey-day, malls such Pertama Complex and Campbell Shopping Complex were vibrant and flourishing hubs of retail, commerce, and society, to the point...
Read more »
Kuala Lumpur students connect with NASA astronautStudents could communicate directly with Williams through the program
Read more »
Dikecam Sebab 'Dislike' Kuala Lumpur, Mat Salleh Tampil Jelaskan KL Dah Jadi Macam AmerikaMacam tu pula.
Read more »