Bank of China confidence shouting little effect, ringgit against the U.S. dollar opening depreciation to the level of 4.805, once again refreshed since the Asian financial turmoil in 1998, a new low level of 26 years!
At 9am, the ringgit was trading at 4.8050 against the US dollar, down 0.1 percent from 4.80 at Tuesday’s (20) market close, according to data from Bank Negara.
Meanwhile, the ringgit was at 3.5754 against the Singapore dollar, 0.22 percent weaker than yesterday’s closing of 3.5674.
After RM depreciated to the 4.80 level yesterday, Bank Negara then stepped in to explain RM’s current performance, and confidence shouted most analysts to predict that RM will be expected to recover this year.
