Ringgit rises on USD weakness

TheStar Tue, Aug 04, 2020 07:50am - 3 years View Original


ringgit usd

PETALING JAYA: The global reserve currency - the US dollar - has been losing steam over the past several months and has lost nearly 10% of its international value, as measured by the US Dollar Index, since its year-to-date peak in March.

The greenback continues to slip on a downward trend but that has put pressure on exporters in Malaysia that rely on dollar receipts.

The stronger ringgit comes as a boon for importers purchasing items and services denominated in the US dollar but it is a bane for exporters who sell their products in US dollar terms.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

AMBANK 4.190
KENANGA 1.180

Comments

Login to comment.