Bank Negara: The recent currency depreciation not limited to ringgit alone

KUALA LUMPUR: A strong US dollar will likely continue in the near future and economies need to brace for another round of rough currency market as heightened risks would lead to a flight to safety phenomenon globally.

Last year, the aggressive interest rate hike by the US Federal Reserve (Fed) was the main factor in the weakening of the currencies market, including the ringgit, as the US dollar is seen to be giving better returns from the interest rate differential point of view.