Weak commodity prices, concerns about the impact of slowing growth in China and lingering domestic political worries continued to take a toll on the ringgit.
The currency exchange rate against the US dollar fell to a new 17-year low of 4.339 yesterday. It was at its weakest to the Singapore dollar at 3.056.
“It’s been a mix of political uncertainties, weak China data and falling commodities prices,” said a currency trader.
Moody’s Investors Service, in a report yesterday, slashed its growth forecast for China and many countries around the Asia-Pacific region.
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The currency exchange rate against the US dollar fell to a new 17-year low of 4.339 yesterday. It was at its weakest to the Singapore dollar at 3.056.
“It’s been a mix of political uncertainties, weak China data and falling commodities prices,” said a currency trader.
Moody’s Investors Service, in a report yesterday, slashed its growth forecast for China and many countries around the Asia-Pacific region.
For Free Signals and other KLSE online updates, click here 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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