PETALING JAYA: The ringgit slides against the greenback amid tensions in the Middle East as well as anticipation of the US Federal Reserve keeping interest rates higher for longer which has resulted in the strengthening of the US dollar.
The ringgit slid to 4.7800 against the dollar yesterday, nearing its low of 4.8053 on Feb 21, which was the weakest since the local unit’s record low of 4.8850 in 1997 following the fallout from the Asian financial crisis.
