Ringgit ends lower v dollar
The ringgit has ended lower against the dollar today due to strong US economic data that saw the broader dollar claw back some gains. – The Malaysian Insight file pic, June 28, 2023.
At 6pm, the local note ended at 4.6705/6740 against the greenback compared with 4.6640/6685 yesterday. China’s economic recovery is not on track, underscored by the 18.8% fall in its industrial profits in the first five months of 2023, he said. “Other than the Federal Reserve sounding more dovish, I am not sure what can stem the weaker tide, especially with the yuan expected to weaken further over the short term,” he told Bernama.
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