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Ringgit weakens to record RM3.45 against Singapore dollar, but could rebound soon

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Tan Ai Leng

Published Thu, Jun 15, 2023 · 08:15 PM
    • Analysts say the changing sentiment in local markets and recent developments surrounding domestic issues have led to outflows of foreign funds, which have caused the ringgit to weaken further.
    • Analysts say the changing sentiment in local markets and recent developments surrounding domestic issues have led to outflows of foreign funds, which have caused the ringgit to weaken further. PHOTO: BLOOMBERG

    [KUALA LUMPUR] The Malaysian ringgit – one of the worst-performing currencies in Asia this year – continued its slide as it hit an all-time low of RM3.45 against the Singapore dollar on Thursday (Jun 15).

    This marked a nearly 8.5 per cent depreciation from a year ago, and a 4.2 per cent dip since the start of the year.

    Against the greenback, the ringgit touched RM4.6362 on Thursday – a 4.7 per cent decline from 12 months ago, and 4.5 per cent weaker than the rate on Jan 1 this year.

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