Ringgit touches near 2-year low, Asian stocks track Wall St strength
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MALAYSIA'S ringgit hit a near 2-year low on Wednesday (Apr 20) , dragged by strength in the US dollar, dim global growth prospects, and an overnight slump in oil prices, while other emerging Asian currencies trade mixed.
Most equities in the region firmed, following overnight gains on Wall Street.
The ringgit, resuming trade after a holiday, fell up to 0.8 per cent to its lowest since June 2020 as the greenback edged higher. It later pared some losses to trade 0.6 per cent lower, as crude prices rebounded.
"The sharp drop in oil prices in the past 24 hours has weighed on the ringgit," Alvin Tan, the head of Asia FX strategy at RBC Capital Markets, said. AFP
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