KUALA LUMPUR: The ringgit hit a fresh intra-day low of 4.4250 against the greenback as foreign funds continued to exit emerging markets amid expectations that the US Federal Reserve (Fed) would likely raise interest rates by year-end.
The ringgit hit its lowest of 4.4250 against the US dollar at 4:30 pm yesterday, putting the currency closer to its 17-year ebb of 4.7125 recorded on Jan 9, 1998, just before Bank Negara pegged the ringgit to the US dollar at 3.8000 in September in the same year.
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