KUALA LUMPUR, March 24 ― The ringgit retreated from four consecutive days of gains to close lower against the US dollar today on mild profit-taking after the sharp...
KUALA LUMPUR, March 24 ― The ringgit retreated from four consecutive days of gains to close lower against the US dollar today on mild profit-taking after the sharp appreciation recently, an economist said.
Bank Muamalat Malaysia Bhd chief economist and social finance Dr Mohd Afzanizam Abdul Rashid said the latest Consumer Price Index print in February showed that Malaysia’s inflation rate has been sustained at 3.7 per cent for two consecutive months.“We believe the inflation rate is still on the high side with the average inflation since 2006 stood at 2.2 per cent,” he told Bernama.
The local note rose vis-a-vis the euro to 4.7476/7535 from 4.8055/8098 at yesterday’s close and appreciated against the British pound to 5.4034/4101 from 5.4379/4428 previouslyAt the same time, the ringgit was traded mostly lower against Asean currencies.
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