News Column

Malaysian Ringgit Extends Fall To 6-day Low Vs US Dollar

June 24, 2014

KUALA LUMPUR (Alliance News) - The Malaysian ringgit extended fall against the US dollar in the Asian session on Wednesday as sentiment fell on worries about the situation in Iraq.

According to reports, Syrian warplanes struck targets in the western Iraqi province of Anbar, further broadening the Middle Eastern crisis.

The benchmark KLSE Composite is currently down 3.02 points or 0.16% at 1,889.

Meanwhile, Malaysia's unemployment rate continued to decline in April, figures from the Department of Statistics showed.

The unemployment rate dropped to 2.9% in April from 3.0% in March. The unemployment rate was again 3.0% a year ago.

The number of unemployed persons in the country declined to 407,200 persons in April from 415,700 in March. In the same month last year, the jobless total was 403,600.

Against the greenback, the ringgit fell to a 6-day low of 3.2288. At yesterday's close, the ringgit was trading at 3.2137.

If the ringgit extends its downtrend, it is likely to find support around the 3.23 area.

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Source: Alliance News

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