Malaysian Ringgit Falls To Record Low Against U.S. Dollar
December 05 2014 - 12:00AM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
Asian session on Friday.
In the economic news, data from the Department of Statistics
showed that Malaysia's exports declined more than expected in
October.
Exports declined 3.1 percent on a yearly basis in October, while
economists expected it to drop marginally by 0.3 percent.
Meanwhile, imports grew unexpectedly by 9.1 percent annually.
Economists had forecast a 0.3 percent drop for October.
As a result, the trade surplus fell to MYR 1.2 billion, a
decrease of MYR 8.1 billion from the prior month. The expected
level of surplus was MYR 8.82 billion.
Against the greenback, ringgit fell to a new record low of
3.4757 from yesterday's closing quote of 3.4465.
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