Ringgit Extends Losses as Stronger US Dollar Pressures Regional Currencies

KUALA LUMPUR: The ringgit extended its losses against the US dollar on Monday, closing lower as the US Dollar Index (DXY) rose 0.70% to 98.406 points. At 6 pm, the local currency eased to 4.2135/2180 against the greenback from Friday’s 4.2055/2125. Economists said the ringgit traded in a tight range between RM4.2103 and RM4.2180.

Ringgit Extends Losses

Analysts noted the yen weakened the most, with the dollar-yen rate surpassing 150 yen as Japan’s incoming Prime Minister Sanae Takaichi is expected to adopt pro-growth policies. The ringgit, however, strengthened against the euro, yen, and Singapore dollar, while slightly weaker against the British pound.

Business News