Ringgit slides against dollar on stronger US retail sales data
Analysts say the ringgit opened lower again today as demand for the US dollar strengthened following stronger US retail sales data. – The Malaysian Insight file pic, February 16, 2023.
At 9.01am, the local note dropped to 4.4170/4205 versus the greenback from yesterday’s closing of 4.3900/3945. “While underlying inflation remains elevated amid tight labour markets, further evidence that strong US consumer demand is likely driving prices upward and remains a concern,” he said.Back home, the ringgit was mostly lower against a basket of major currencies.
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