Falling oil prices on worries that demand for the commodity will take a hit from a possible recession affected the ringgit’s performance today, says analyst. – The Malaysian Insight file pic, June 22, 2022.
At 6pm, the local currency slipped against the greenback to 4.4050/4065 from yesterday’s close of 4.3945/3980. “In addition, the falling oil prices on worries that demand for the commodity will take a hit from a possible recession, also weighed on the ringgit’s performance today,” he said.However, the ringgit was traded higher against a basket of major currencies.
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