Malaysia’s ringgit marks new all-time low

Illustrative image. (Photo: thestar.com.my)

Kuala Lumpur (VNA) – Malaysia’s ringgit further weakened against the US dollar on October 21, closing the week at a new all-time low of 4.738 due to the absence of fresh market catalyst, analysts said. 

At 6pm, the local note fell further by 110 basis points to 4.7380/7395 versus the greenback from the previous day’s close of 4.7270/7290.

SPI Asset Management Managing Director Stephen Innes said that in line with Asia’s foreign exchange, the ringgit continued its freefall on October 21 after US Treasury 10-year yields moved through 4.25% for the first time since 2008./.

VNA