- September 21, 2022
- Posted by: Stratford Team
- Category: Economy
At 9am, the local currency slid to 4.5640/5680 against the greenback from 4.5585/5595 at yesterday’s close. — Reuters pic
Wednesday, 21 Sep 2022 9:47 AM MYT
KUALA LUMPUR, Sept 21 — The ringgit slipped to a fresh all-time low against the US dollar at the opening on Wednesday, breaching the 4.5600 level due to the lower oil prices, coupled with the strengthening of the greenback, a dealer said.
At 9am, the local currency slid to 4.5640/5680 against the greenback from 4.5585/5595 at yesterday’s close.
At press time, the benchmark Brent crude oil price fell 0.29 per cent to US$90.36 per barrel.
ActivTrades trader, Dyogenes Rodrigues Diniz said the US dollar remained bullish in anticipation of the interest rate decision by the Federal Open Market Committee (FOMC) in the United States (US) later today.
He said the market expectation is that the interest rate will be increased by 75 basis points (bps) to 3.25 per cent a year.
“If this forecast…
