Malaysian Ringgit Drops To 6-day Low Against U.S. Dollar
November 29 2015 - 6:43PM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
Asian session on Monday.
Data from the Department of Statistics showed that Malaysia's
domestic producer price index dropped 2.6 percent year-over-year in
October, following a 5.1 percent decrease in September. In August,
prices had fallen 5.4 percent. On a monthly basis, producer prices
rose 1.7 percent in October, much faster than the 0.1 percent
slight increase in the preceding month. It was the second
successive monthly climb.
Against the greenback, the ringgit fell to a 6-day low of 4.2800
from an early high of 4.2640. At Friday's close, the ringgit was
trading at 4.2600 against the greenback.
If the ringgit extends its downtrend, it is likely to find
support around the 4.40 area.
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