Ringgit weakens against the US dollar
The ringgit weakened against the US dollar and other currencies at yesterday’s close as uncertainties over the conflict in West Asia triggered a risk-off mode in financial markets.
The Star said at 6pm, the local currency fell to 3.9920/9955 versus the greenback from yesterday’s close of 3.9620/9670.
As reported by national official news agency Bernama, Bank Muamalat Malaysia Bhd chief economist Encik Mohd Afzanizam Abdul Rashid said signs of de-escalation remained elusive, with the Iranian government rejecting peace talks despite US insistence.
“The demands from the Iranian government, including reparations for damages following the US-Israel attack on its soil, guarantees against further military assaults, and recognition of its authority over the Strait of Hormuz, appear to be a tall order.
“Hence, sentiment in the foreign exchange market is likely to remain cautious in the near term, as countries across Asia grapple with fuel shortages,” he told the Malaysian news agency.
End©Permadu
| Adapted by Fauzi Kadir Chief Editor |
Final editing and brought to you by Fauzi Kadir CHIEF EDITOR |
(Semua Hak Cipta Terpelihara)
PUBLISHED UPON APPROVAL BY THE EDITORIAL BOARD
Visiting Permadu Malaysia is absolutely free and we operate with non-profit making objective. We hope you enjoy and feel happy visiting and reading every presentation from us.
If you have the generosity to support our operations and continuous activities of charity to those who are less fortunate, we would be grateful to accept sincere contributions from any individuals or organisations.
Contact us at permadu@gmail.com for further details and information. No obligation and no commitment.







Comments
Post a Comment