Ringgit likely to extend downtrend again this week after hitting 24-year low last Friday (Sept 23)

A moneychanger worker showing the ringgit and US dollar notes in Kuala Lumpur. - MUHAMAD SHAHRIL ROSLI/The Star.

KUALA LUMPUR, Sept 25 (Bernama): The ringgit is likely to trend lower this week as the recent aggressive interest rate hike by the United States Federal Reserve (Fed) and its signal of more steep hikes going forward will continue to weigh on the currency, said an analyst.

"The demand for safe haven is expected to increase further, putting emerging market currencies, especially the ringgit, under pressure,” she told Bernama.