KUALA LUMPUR: The People’s Bank of China (PBOC) unexpectedly cutting its key borrowing rate more than what the market anticipated drove major regional currencies, including the ringgit, to trade lower against the US Dollar, mirroring the trend of the Chinese renminbi.
At 6 pm, the ringgit slipped lower to 4.7975/8000 against the greenback compared to yesterday’s close of 4.7850/7890.
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