Ringgit drops to new all-time low vs greenback in early session

KUALA LUMPUR: The ringgit depreciated to a fresh all-time low against the US dollar at the opening today, due to the higher-than-expected reading of the United States (US) Consumer Price Index (CPI) data, which signals that a significant increase in the US interest rate might be on its way, a dealer said.

At 9 am, the local currency slid to 4.6920/6965 against the greenback from Thursday’s close of 4.6910/6940.