NO RESPITE IN SIGHT: RINGGIT SLUMPS TO LOWEST IN 19 YEARS ON PERSISTENT SELLING PRESSURE

SINGAPORE – The Malaysian ringgit slipped to its lowest level in almost 19 years against the dollar on Tuesday, on persistent downward pressure after the U.S. Federal Reserve raised interest rates last week and signalled a faster pace of rate increases in 2017.

The ringgit , touched a low of 4.4785 per U.S. dollar, according to Reuters data – its weakest level since January 1998, during the height of the Asian financial crisis.

The following table shows rates for Asian currencies against the dollar at 0135 GMT (0935 Malaysian time) on Tuesday.

CURRENCIES VS U.S. DOLLAR

Change on the day at   0135 GMT

Currency              Latest bid   Previous      Pct
day     Move
Japan yen                 117.29     117.10    -0.17

Sing dlr                  1.4485     1.4491    +0.04

Taiwan dlr                31.980     31.970    -0.03

Korean won               1191.40    1186.90    -0.38

Baht                       35.89      35.87    -0.06

Peso                      49.975     49.960    -0.03

Rupiah                     13385      13380    -0.04

Rupee                      67.87      67.86    -0.01

Ringgit                   4.4770     4.4765    -0.01

Yuan                      6.9500     6.9513    +0.02

Change so far in 2016

Currency              Latest bid   End prev      Pct
year     Move

Japan yen                 117.29     120.30    +2.57

Sing dlr                  1.4485     1.4177    -2.13

Taiwan dlr                31.980     33.066    +3.40

Korean won               1191.40    1172.50    -1.59

Baht                       35.89      36.00    +0.30

Peso                       49.98      47.06    -5.83

Rupiah                     13385      13785    +2.99

Rupee                      67.87      66.15    -2.53

Ringgit                   4.4770     4.2935    -4.10

Yuan                      6.9500     6.4936    -6.57

– Reuters

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