Bursa Alert
Global Market
NewsForex Malaysia ringgit at fresh 17-year low ahead of FX reserves data
Page 1 of 1
Forex Malaysia ringgit at fresh 17-year low ahead of FX reserves data
by Cals Sat 22 Aug 2015, 01:42
Forex
Malaysia ringgit at fresh 17-year low ahead of FX reserves data
SINGAPORE (Aug 21): The Malaysian ringgit fell to a fresh 17-year low on Friday as investors awaited foreign exchange reserve data for signs on how much ammunition the central bank has left to defend the currency.
The ringgit fell nearly 1.0 percent to 4.1780 per dollar, its weakest since Aug. 31, 1998.
The country pegged the ringgit at 3.8000 to the U.S. currency in September 1998 and maintained it until 2005.
Malaysia will release the reserves data as of mid-August at 1000 GMT. Its international reserves fell below the $100 billion mark last month.
A protracted political crisis, slumping commodity prices and an investor exodus from emerging market assets have all undermined the currency's appeal, and pressure intensified after China's surprise yuan devaluation last week.
The Southeast Asian country is a major supplier of liquefied natural gas and palm oil. - Reuters
Malaysia ringgit at fresh 17-year low ahead of FX reserves data
SINGAPORE (Aug 21): The Malaysian ringgit fell to a fresh 17-year low on Friday as investors awaited foreign exchange reserve data for signs on how much ammunition the central bank has left to defend the currency.
The ringgit fell nearly 1.0 percent to 4.1780 per dollar, its weakest since Aug. 31, 1998.
The country pegged the ringgit at 3.8000 to the U.S. currency in September 1998 and maintained it until 2005.
Malaysia will release the reserves data as of mid-August at 1000 GMT. Its international reserves fell below the $100 billion mark last month.
A protracted political crisis, slumping commodity prices and an investor exodus from emerging market assets have all undermined the currency's appeal, and pressure intensified after China's surprise yuan devaluation last week.
The Southeast Asian country is a major supplier of liquefied natural gas and palm oil. - Reuters
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Asia FX Ringgit leads Asia FX losses ahead of Malaysia FX reserves, US job data
» Ringgit falls to fresh three-year low
» Palm oil reserves in Malaysia seen declining to three-year low
» Update Malaysia reserves fall again as ringgit continues to slide
» Highlight Ringgit drops to five-year low as U.S. jobs data fuel rate bets
» Ringgit falls to fresh three-year low
» Palm oil reserves in Malaysia seen declining to three-year low
» Update Malaysia reserves fall again as ringgit continues to slide
» Highlight Ringgit drops to five-year low as U.S. jobs data fuel rate bets
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum