Pressure on ringgit: A file picture showing ringgit bank notes of different denominations. It has breached the 4.0 to the US dollar psychological level. – Reuters
PETALING jAYA: The depreciating yuan, plummeting commodity prices and an expected hike in benchmark US interest rates continue to weigh on the ringgit, which breached the 4.0 to the US dollar psychological level in early morning trade yesterday.
The currency closed at 4.0275 amid broad losses in the stock market and slowing demand for Malaysian debt papers. The slide in Malaysia’s capital markets comes just before the release of the second-quarter economic performance briefing by Bank Negara, to be held today.
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