Ringgit extends downtrend, goes down to 4.57 against US dollar

KUALA LUMPUR: The ringgit continued to weaken against the US dollar, breaching the 4.57 level as the greenback continued to strengthen after the latest interest rate hike by the American central bank. Lower oil prices also weighed on the local currency.

At 6 pm today, the local currency depreciated to 4.5775/5800 against the greenback from 4.5660/5695 at Thursday’s close.