Ringgit hits RM4.40 to US dollar on global recession concerns

19/5/2022 4:35:00 PM

At 6 pm, the local note stood at 4.4030/4060 versus the greenback.

Forex, Ringgit

At 6 pm, the local note stood at 4.4030/4060 versus the greenback.

KUALA LUMPUR: The ringgit closed lower today, hitting RM4.40 against the US dollar on global recession concerns, said an analyst.

ALSO READ:SPI Asset Management managing partner Stephen Innes said although the US dollar was not so much in demand due to global economic growth concerns, sentiments for emerging currencies, including the ringgit, remained weak, triggering a wide sell-off.

The ringgit hit a record low on March 23, 2020 when it reached RM4.447."The next move will depend on the economic reopening in China. If China opens up, the ringgit will likely strengthen as export channels will open up and will likely reverse the narrowing trade surplus that fell lower than consensus (estimates),” he told Bernama.

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Our exports will be cheaper. That isn't too bad.

Ringgit hits RM4.40 to US dollar on global recession concernsKUALA LUMPUR, May 19 — The ringgit closed lower today, hitting RM4.40 against the US dollar on global recession concerns, said an analyst.At 6 pm, the local note stood at...

Ringgit cecah RM4.40 berbanding dolar AS, terendah sejak Mac 2020 | The Malaysian Insight Ringgit mencatatkan rekod terendah pada 23 Mac 2020 apabila ia mencecah paras RM4.447.

RM4.40 to US$1 biggest drop since March 2020 | The Malaysian InsightThis follows US Federal Reserve’s hawkish stance to tighten monetary policy.

Ringgit hits RM4.4 against US dollar, lowest since March 2020Performance reflects economic uncertainties including higher interest rate from US Federal Reserve. Hahaha igt hero pergi US ringgit terus naik 😁 🥲🥲🥲 Should stock up on USD as ringgit is becoming less than cow dung

Ringgit hits RM4.4 against dollar, lowest since March 2020KUALA LUMPUR, May 19 — The ringgit slid further to open lower at RM4.4 against the US dollar, the lowest since March 2020 following a hawkish stance by the US Federal Reserve... It looks like it would fall further but our politicians always gives excuses instead of admitting and take steps to rectify the situation.

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At 6 pm, the local note stood at 4.for the latest news you need to know.× Salin URL Ringgit mencatatkan rekod terendah pada 23 Mac, 2020 apabila ia mencecah paras RM4.× Copy URL Although the ringgit traded lower against the greenback today, it traded mostly higher against other major currencies.

4030/4060 versus the greenback from Wednesday's close of 4.3960/3975.40 against the US dollar on global recession concerns, said an analyst. ALSO READ: SPI Asset Management managing partner Stephen Innes said although the US dollar was not so much in demand due to global economic growth concerns, sentiments for emerging currencies, including the ringgit, remained weak, triggering a wide sell-off. RINGGIT terus merosot untuk dibuka lebih rendah pada paras RM4. The ringgit hit a record low on March 23, 2020 when it reached RM4.4030/4060 versus the greenback from Wednesday’s close of 4.447.4050/4080 versus the greenback at 9.

"The next move will depend on the economic reopening in China. SPI Asset Management managing partner Stephen Innes said although the US dollar was not so much in demand due to global economic growth concerns, sentiments for emerging currencies, including the ringgit, remained weak, triggering a wide sell-off.19 pagi, mata wang tempatan berada pada 4. If China opens up, the ringgit will likely strengthen as export channels will open up and will likely reverse the narrowing trade surplus that fell lower than consensus (estimates),” he told Bernama. ALSO READ: "Although US yields are falling, the market is still pricing in a 50 basis points increase at the next US Federal Reserve meeting.447. Therefore, I do not think the US dollar will sell off too far (off). Bermula July 2018, akses bagi laporan penuh hanya untuk anda yang melanggan.” The ringgit also traded mostly lower against a basket of major currencies. If China opens up, the ringgit will likely strengthen as export channels will open up and will likely reverse the narrowing trade surplus that fell lower than consensus (estimates),” he told Bernama.

It depreciated against the Singapore dollar to 3.1752/1778 from Wednesday's close of 3. Therefore, I do not think the US dollar will sell off too far (off).1713/1728 and weakened versus the British pound to 5.4584/4621 from 5. It depreciated against the Singapore dollar to 3.4554/4573.

The ringgit slid versus the Japanese yen to 3.1713/1728 and weakened versus the British pound to 5.4495/4524 from 3.4041/4055 but gained vis-a-vis the euro to 4.4554/4573.6223/6254 from 4.6268/6284.4495/4524 from 3.

- Bernama Article type: metered .