News & Articles Ringgit ends to a new 17-year low against USD
Ringgit ends to a new 17-year low against USD
6 Aug 2015
KUALA LUMPUR: The ringgit fell to a new 17-year low today, dragged down by domestic issues and falling commodity prices, says a currency trader.
At 5 pm, the ringgit was quoted at 3.9005/9035 against the US dollar from 3.8760/8790 on Wednesday.
The ringgit contracted by as much as 0.4 per cent to 3.8935 per dollar, its weakest since Sept, 2 1998, a day before the currency was pegged at 3.8000.
Capital Advisors Currency Trader, Justin Herling, told Bernama the declining oil prices, coupled with China’s struggling economy, had largely contributed to the depreciation of the ringgit.
The ringgit was traded lower against other major currencies. It fell against the Singapore dollar to 2.8140/8166 from 2.7986/7027 yesterday and decreased against the yen to 3.1231/1266 from 3.1160/1092 on Wednesday.
It declined against the euro to 4.2461/2501 from 4.2082/2122 previously and was lower against the pound sterling at 6.0871/0938 from 6.0392 yesterday.
At 5 pm, the ringgit was quoted at 3.9005/9035 against the US dollar from 3.8760/8790 on Wednesday.
The ringgit contracted by as much as 0.4 per cent to 3.8935 per dollar, its weakest since Sept, 2 1998, a day before the currency was pegged at 3.8000.
Capital Advisors Currency Trader, Justin Herling, told Bernama the declining oil prices, coupled with China’s struggling economy, had largely contributed to the depreciation of the ringgit.
The ringgit was traded lower against other major currencies. It fell against the Singapore dollar to 2.8140/8166 from 2.7986/7027 yesterday and decreased against the yen to 3.1231/1266 from 3.1160/1092 on Wednesday.
It declined against the euro to 4.2461/2501 from 4.2082/2122 previously and was lower against the pound sterling at 6.0871/0938 from 6.0392 yesterday.
Source: New Straits Times