Ringgit eases against dollar
The ringgit has ended lower against the US dollar in tandem with weaker regional currency performances following the strengthening of the greenback. – The Malaysian Insight file pic, August 14, 2023.
At 6pm, the local note fell to 4.6140/6175 against the US dollar compared with 4.5865/5895 last Friday. “In light of the stark difference in respect to monetary policies in China and the United States whereby the former would favour an easing bias, it would make the US dollar stand out. Meanwhile, SPI Asset Management managing partner Stephen Innes said the ringgit is more susceptible to China’s economic and yuan weaknesses due to Malaysia’s close trading ties with China.
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