Ringgit slips further v dollar
The ringgit declines to 4.5815/5845 against the US dollar from 4.5575/5625 at yesterday’s close. – The Malaysian Insight file pic, August 8, 2023.
The greenback strengthened due to uncertainties surrounding the Federal Reserve’s decision regarding inflation rates. Additionally, the release of US inflation data this week also contributed to the dollar’s rise. At 6pm, the local note fell to 4.5815/5845 against the US dollar from 4.5575/5625 at yesterday’s close.
“This is suggesting that the world’s second-largest economy is facing a challenging outlook this year. Consequently, the yuan has weakened against the US dollar by 0.018% to 7.2111 yuan,” he said.
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