Ringgit extends fall against greenback ahead of US inflation data

Publish date: Tue, 12 Nov 2024, 06:44 PM

KUALA LUMPUR: The ringgit continued to close lower against the greenback on Tuesday as the greenback extended its rally ahead of speeches by US Federal Reserve (Fed) officials this week and US inflation data tomorrow, an economist said.

At 6 pm, the local note fell to 4.4365/4400 against the greenback compared to Monday's close of 4.4090/4120.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investors were likely anxious about possible policy changes in US policy, which could affect the Fed's decisions on interest rate cuts in 2025.  



  - Bernama

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

Post a Comment