A dark day for the ringgit

The recent weakness in the ringgit was partly due to the soft economic expansion.

KUALA LUMPUR: It was a double whammy day for the ringgit, with the currency falling to a new all-time low against two closely compared currencies – the US dollar and the Singapore dollar.

To calm the markets, Bank Negara had to issue a statement yesterday, pointing out that “most analysts are forecasting for the ringgit to appreciate this year”.