KUALA LUMPUR, Sept 26 — The ringgit continued its downtrend against the US dollar in today’s closing as reduced investor risk appetite pushed the ringgit to a new 24-year...
KUALA LUMPUR, Sept 26 — The ringgit continued its downtrend against the US dollar in today’s closing as reduced investor risk appetite pushed the ringgit to a new 24-year low.
UOB Kay Hian Wealth Advisors Sdn Bhd head of wealth research and adviser Mohd Sedek Jantan said the ringgit is expected to continue its decline going forward as the greenback continues to strengthen on the back of interest rate hikes. “One thing to keep in mind is that the strengthening of the US dollar, caused by the increases in US interest rates, has resulted in a decline not only of the ringgit but other currencies as well,” he told Bernama.
“In terms of currency volatility, the ringgit is more stable than the currencies of South Korea, Australia, Japan, Germany, and the United Kingdom.
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