The ringgit’s recent strong performance was attributed to the implementation of economic reforms in Malaysia.
: The ringgit closed lower on Wednesday as rising geopolitical risks spurred the buying of safe haven assets such as the greenback, nevertheless it still emerged as a global best performer against the US dollar in a three-month period from July 2 to Oct 2.
At 6 pm, the local note slipped to 4.1730/1790 versus the greenback compared to yesterday’s close of 4.1530/1610. Afzanizam noted the risk-off mode in financial markets globally today, not just in Malaysia, as traders and investors turned cautious after Iran launched missiles at Israel in retaliation for Israel’s raids in Lebanon.“Hence, the safe haven currency, namely the US dollar, will be a highly sought after currency. This will continue to shape market sentiments in the near term and the ringgit would continue to remain weak against the greenback,” he told Bernama.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Mekdi’ milik anak Malaysia, diusahakan oleh rakyat Malaysia untuk Malaysia‘Mekdi’ milik anak Malaysia, diusahakan oleh rakyat Malaysia untuk Malaysia
Read more »
BNM deputy governor: Malaysia’s reforms and US interest rate clarity keep ringgit on the upKUALA LUMPUR, Sept 26 — The ringgit has been rising steadily against the US dollar, notably since early July, following greater clarity of the interest rate path of developed...
Read more »
Card Game Shop Simulator Uses Ringgit Malaysia As In-Game CurrencyIf you ever wanted to practice working for 99 Speed Mart
Read more »
Malaysia's ringgit at near 3-year high after China stimulusKUALA LUMPUR: A 49-year-old man lost over RM20,000 to a sperm “lending” scam after being lured by an online advertisement offering payment to sperm donors.
Read more »
BNM deputy governor on stronger ringgit and what’s driving Malaysia’s economic momentumKUALA LUMPUR, Sept 26 — The ringgit has been rising steadily against the US dollar, notably since early July, following greater clarity of the interest rate path of developed...
Read more »
US rate cut, Malaysia's structural reforms and economic outlook fuelling ringgit recoveryA heart-touching Thai film titled 'How to Make Millions Before Grandma Dies' has garnered a phenomenal reputation and box office since its debut on the Chinese mainland in late August.
Read more »