Ringgit slides further and touches 4.59 against US dollar at opening

KUALA LUMPUR: The ringgit continued to go down against the US dollar on Monday, dragged down by market volatility that was triggered by the recent steep US interest rate increase and the expectation of more hikes to come, said a dealer.

At 10.39 am, the local currency fell to 4.5960/5980 against the greenback from last Friday’s 4.5775/5800.