KUALA LUMPUR – The ringgit continued its decline in early trade today, as the greenback strengthened amid the possibility for an increase in interest rates this year, a dealer said.
At 9am, the ringgit eased to 4.3890/3980 against the greenback from 4.3800/9000 at 5pm on Friday.
The dealer said the the local currency was still under pressure as Federal Reserve Chair, Janet Yellen, has confirmed last week that the bank was still poised to normalise policy this year.
The ringgit was traded lower against a basket of major currencies except the pound sterling.
It fell against the Singapore dollar to 3.0783/0852 from 3.0758/0835 on Friday. It was traded lower against the yen at 3.6429/6519 from 3.6180/6269 previously.
The local note eased against the euro to 4.9117/9231 from 4.8784/8900 on Friday. It, however, rose against the pound sterling to 6.6695/6863 from 6.6699/6868 previously. — BERNAMA