Malaysian Ringgit Falls To 9-day Low Against U.S. Dollar
February 12 2015 - 01:08AM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
Asian session on Thursday, as no enough progress was achieved on
Greek debt talks about a bailout plan at the Euro group meeting
late Wednesday.
Meanwhile, data from the Department of Statistics showed that
Malaysia's economic growth advanced 5.8 percent year-on-year in the
three months ended in December, faster than the previous quarter's
5.6 percent growth. Economists had expected the economy to expand
at a slower pace of 5.0 percent.
Another report from the statistical office showed that the
current account surplus of the nation fell to MYR 6.1 billion the
fourth quarter from MYR 7.6 billion in the prior quarter. A year
earlier, the surplus was at MYR 14.8 billion.
Against the greenback, the ringgit fell to a 9-day low of 3.6305
from yesterday's closing quote of 3.6005.
If the ringgit extends its downtrend, it is likely to find
support around the 3.62 area.
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