Ringgit extends fall against greenback as US 10-year Treasury yield hits 5%

KUALA LUMPUR: The ringgit extended its decline to close lower against the US dollar on Monday as the 10-year US Treasury yield hit 5 per cent while geopolitical tension in the Middle East further spurred a risk-off sentiment.

At 6 pm, the local currency slipped by 0.49 per cent to 4.7900/7975 against the greenback from Friday’s close of 4.7655/7700. The ringgit is now hovering at 25-year lows.