News & Articles Ringgit slide continues, now at RM4.35 against greenback
Ringgit slide continues, now at RM4.35 against greenback
8 Sep 2015
"The ringgit continued its downtrend to open lower against the US dollar today on continued selling of the emerging currencies, including ringgit, dealers said.
At 9.10am, the ringgit was quoted at 4.3540/3600 against the greenback from 4.3275/3325 yesterday.
The ringgit was also traded lower against other major currencies.
It declined against the Singapore dollar to 3.0460/0528 from yesterday’s 3.0330/0374 and fell against the yen to 3.6453/6510 from 3.6277/6325 yesterday.
The local unit eased against the pound sterling to 6.6512/6621 from 6.6038/6127 yesterday and weakened against the euro to 4.8608/8684 from 4.8299/8372 previously.
Reuters reported that China’s yuan fell at the open today after official data the previous day showed that China’s foreign exchange reserves dropped by a record US$93.9 billion (RM408.5 billion) in August.
The People’s Bank of China set the midpoint rate at 6.3639 per US dollar prior to market open, weaker than the previous fix of 6.3584, and firmer than the previous day’s closing quote 6.3659.
The spot market opened at 6.3730 per US dollar and was changing hands at 6.3673 in early trade, 14 pips away from the previous close and 0.05% away from the midpoint.
The spot rate is currently allowed to trade with a range 2% above or below the official fixing on any given day.
The offshore yuan was trading 1.92% below the onshore spot at 6.492 per US dollar.
Meanwhile the Indonesian rupiah slipped towards 14,500 – levels not seen since the Asian financial crisis."
At 9.10am, the ringgit was quoted at 4.3540/3600 against the greenback from 4.3275/3325 yesterday.
The ringgit was also traded lower against other major currencies.
It declined against the Singapore dollar to 3.0460/0528 from yesterday’s 3.0330/0374 and fell against the yen to 3.6453/6510 from 3.6277/6325 yesterday.
The local unit eased against the pound sterling to 6.6512/6621 from 6.6038/6127 yesterday and weakened against the euro to 4.8608/8684 from 4.8299/8372 previously.
Reuters reported that China’s yuan fell at the open today after official data the previous day showed that China’s foreign exchange reserves dropped by a record US$93.9 billion (RM408.5 billion) in August.
The People’s Bank of China set the midpoint rate at 6.3639 per US dollar prior to market open, weaker than the previous fix of 6.3584, and firmer than the previous day’s closing quote 6.3659.
The spot market opened at 6.3730 per US dollar and was changing hands at 6.3673 in early trade, 14 pips away from the previous close and 0.05% away from the midpoint.
The spot rate is currently allowed to trade with a range 2% above or below the official fixing on any given day.
The offshore yuan was trading 1.92% below the onshore spot at 6.492 per US dollar.
Meanwhile the Indonesian rupiah slipped towards 14,500 – levels not seen since the Asian financial crisis."
Source: The Rakyat Post