The ringgit breached the 3.80 level against the US dollar this morning -- the level at which it was pegged against the greenback in September 1998.
The peg, introduced during the East Asia financial crisis to arrest a slide in the currency, was scrapped in 2005.
At 9.01 am, the local currency was quoted at 3.8040/8080 against 3.7760/7790 on Friday.
A dealer said the fall in the ringgit was in tandem with other regional peers as demand for emerging-market assets was dampened by the increasing risk that Greece will exit the eurozone after the country voted to reject the terms of a bailout.
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The peg, introduced during the East Asia financial crisis to arrest a slide in the currency, was scrapped in 2005.
At 9.01 am, the local currency was quoted at 3.8040/8080 against 3.7760/7790 on Friday.
A dealer said the fall in the ringgit was in tandem with other regional peers as demand for emerging-market assets was dampened by the increasing risk that Greece will exit the eurozone after the country voted to reject the terms of a bailout.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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