Malaysian Ringgit Falls To 6-year Low Against U.S. Dollar
March 20 2015 - 02:08AM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
Asian session on Friday.
On the economic front, data from the Department of Statistics
showed that Malaysia's consumer price inflation eased at a
faster-than-expected pace in February. The consumer price index
rose only 0.1 percent year-over-year in February, slower than
January's 1.0 percent climb. Economists had forecast a 0.2 percent
increase for the month.
On a monthly basis, consumer prices dropped 0.6 percent in
February. Against the greenback, the ringgit fell to a 6-year low
of 3.7302. At yesterday's close, the ringgit was trading at
3.7040.
If the ringgit extends its downtrend, it is likely to find
support around the 3.76 area.
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