Malaysian Ringgit Slides To 2-day Low Against U.S. Dollar
February 27 2015 - 2:35AM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar ahead of
European deals on Friday, after nation's producer prices declined
notably at the beginning of the year.
Data from the Department of Statistics showed that the domestic
producer price index fell 4.8 percent year-on-year in January and
slipped 0.4 percent from the previous month. Producer prices for
local production also plunged in January, it fell 7.0 percent from
the previous year.
Against the greenback, the ringgit fell to a 2-day low of 3.6201
from an early high of 3.5973. At yesterday's close, the ringgit was
trading at 3.5795 against the greenback.
If the ringgit extends its downtrend, it is likely to find
support around the 3.66 area.
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