Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Ringgit further declines against US dollar at close
Last update: 23/02/2021

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, Feb 23 -- The ringgit further declined against the US dollar at the close today despite the weakening of the greenback, said an analyst. 

At 6 pm, the local currency stood at 4.0420/0450 against the US dollar from Monday’s close of 4.0400/0450.

The analyst said the US dollar volatility came as Bank of America warned of a potential stock market bubble.

“This has led investors to exit the US market temporarily and shift to emerging market as regional currencies are outperforming market expectations, thus improving risk appetite of investors.

“The situation should be favourable for the ringgit amid firmer oil prices and good export numbers, but it still lacks buying support and confidence from investors,” she told Bernama. 

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

It dropped against the Singapore dollar to 3.0591/0618 from 3.0523/0572 on Monday and eased versus the Japanese yen to 3.8393/8425 from 3.8229/8290.

The local currency was down vis-a-vis the euro to 4.9106/9147 from yesterday’s 4.8912/8981 and weakened against the British pound to 5.6948/6998 from 5.6613/6691. 

-- BERNAMA


 <Back>


 


 

CLOSING, WEDNESDAY, JAN 27
US4.0440/0470
S'pore3.0491/0520
100 Yen3.8956/8996
Sterling5.5536/5594
Euro4.9021/9131
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
Not sure
 
  Main | News | Insurance

© 2021 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution