save malaysia!

Ringgit retreats after three days of gains

Publish date: Thu, 30 Nov 2023, 06:44 PM

KUALA LUMPUR (Nov 30): The ringgit closed lower on Thursday, snapping three consecutive days of gains on profit-taking after the local note touched the immediate support level of RM4.6611 against the US dollar.

At 6pm, the ringgit fell to 4.6590/6635 against the greenback from Wednesday’s close of 4.6495/6550.

Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid said the local note is struggling to maintain its appreciation bias after piercing the immediate support level.

“Profit-taking activities appear to seep in whenever it hit the immediate support level,” he told Bernama.

Be the first to like this. Showing 0 of 0 comments

Post a Comment