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Weak market sentiment drags ringgit lower
Last update: 14/03/2018

KUALA LUMPUR, March 14 (Bernama) --†The ringgit†reversed yesterday gains to close†lower against the US dollar today, dampened by negative sentiment emanated from the replacement of the US Secretary of State, causing the greenback instability, dealers said.

At 6 pm, the local note was quoted at 3.9040/9080 against the US dollar compared with yesterday's 3.8950/9010.

"The greenback was under pressured†following the sudden dismissal of US†Secretary of State Rex Tillerson, fanning†worries among†investors.

"Concerns over (US President Donald) Trump administration has†killed risk†appetite globally," a dealer†said.

Meanwhile, against other major currencies, the ringgit†was also traded lower.

It fell†against the†Singapore dollar to†2.9786/9830 from 2.9645/9692 on Tuesday and weakened versus the yen to†3.6630/6674†from 3.6348/6410.

The†local note also depreciated against the euro to†4.8273/8334 from yesterday's 4.8021/8099 and decreased vis-a-vis†the British pound to 5.4453/4524†from†5.4063/4161.



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US 3.9120/9150
S'pore 2.9735/9770
100 Yen 3.7028/7074
Sterling 5.5312/5370
Euro 4.8243/8299
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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