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Trending News: Ringgit Rebounds Slightly Vs USD In Early TradeYSIJ Donates Food Baskets To 200 Families Of Fishermen In Pasir GudangKUSKOP Initiatives Benefit Thousands Of Indian Entrepreneurs Nationwide – RamananMPFN Agrees To Develop Malaysian Marine Spatial Planning – PMThredd releases expert guide for U.S. issuance via BIN sponsorshipJPPA PKR Calls For Respectful Debate On Mufti BillWoman Pleads Guilty To Neglecting Two SonsBudget 2025: RM50 Mln Allocation Will Boost DBP’s Language, Literature InitiativesMalaysia Prepared To Evacuate MALBATT From Lebanon If UN Mandates – MohamadMuhammad Dhuha Gets RM41,000 Windfall For Outstanding Performance At SUKMA 2024NAVIGATING A CHANGING WORLD: INSIGHTS FROM THE 44TH AND 45TH ASEAN SUMMITSJohari Abdul Discusses ASEAN Resilience With Vietnamese CounterpartMOE Views Seriously Rise In Suicidal Thoughts, ‘Barcode’ Trend Among StudentsKedah KPDN Detects 580 Vehicles Refuelling Petrol Several Times A DayLab Results On Thorium Extraction From LC And WLP Residue Encouraging, Dewan Rakyat ToldSyarikat Jaminan Pembiayaan Perniagaan Bhd Approves RM1.59 Bln In Financing Guarantees For MSMEs — MITIFather Of Suspect In Ulu Tiram Attack Charged With Supporting Daesh, Possessing FirearmsPerak Flood Situation ImprovesAPO Productivity Databook 2024: Economic Trends And Projections To 2035Police Arrest Woman Linked To Gold Investment ScamMalaysian Plastics Manufacturers Association (MPMA) Shares Concerns Over Government’s Unanticipated EPF Mandate For Foreign WorkersQueen Attends Hi-tea In Conjunction With Conference Of Rulers’ MeetingGISBH: Suhakam Calls For RCI To Probe Child Exploitation AllegationsMalaysia To Showcase State Pavilions At Next Year’s ASEAN Summit – MohamadCapital A Proposes Capital Reduction Of Up To RM6 BlnNearly 2,000 Children, Elderly, Receive Festive Clothes For Deepavali NationwideKUSKOP Committed To Providing Entrepreneurial Aid, Including To Indian CommunityMDIO To Enhance Cooperation With Media To Highlight Importance Of National DefenceBlackBerry Partners with ISC2 to Advance Cybersecurity Skills in MalaysiaLHDN Launches ‘MyInvois’ App For Easy E-InvoicingOnline Safety Bill To Curb Criminal Activities On Social Media – FahmiTwo Including Ex-Senior Civil Servant Held Over RM50,000 BribeOp Global: 55 Children Returned To Qualified Guardians – NancyRegent Of Johor Grants Audience To Anwar IbrahimNIQ Expands Media Portfolio With Marketing Mix Modelling SolutionsSeven ‘Captain Bangladesh’ Sex Exploitation Victims RescuedPahang Customs Intercepts RM2.6 Million Contraband Cigarettes, LiquorAMCA Succesfully Delivered As A Platform For Cultural Collaboration – TiongIslamic Law Perspective On GISBH Presented To Conference Of Rulers Today, TomorrowInternet, Communication Coverages In Pahang Exceed 94 Pct – FahmiBestowal Of Royal Professor Title An Inspiration To Academic Community – ZambryBernama Fetes Staff For Festival Of LightsPublic Consultation On The Draft Code Of Conduct (best Practice) For Internet Messaging Service Providers And Social Media Service ProvidersRetail Industry To Bounce Back Towards Year-End — MUI GroupM’sia Set To Lose 16 Medals At 2026 Commonwealth Games – HannahMOTAC Identifies Three Key Priorities To Strengthen Arts And Culture In ASEANMalaysia’s Courier Market Expected To Hit US$1.58 Bln In 2025 – TeoGovt Urged To Implement More Comprehensive Plan For Business ResilienceMCMC Seeks Public Input On Draft Code Of Conduct (Best Practice) For Safer Online Environment In MalaysiaPort Operators Should View Kra Land Bridge As Opportunity To Boost Competitiveness – LokeGISBH: Remaining SOSMA Detainees Still Being Investigated – IGPSeparation Of AG-public Prosecutor Roles Will Take Some Time – AzalinaAMB Connect Empowers MSMEs with Islamic Equity Crowdfunding – KUSKOPRecursion: Non-antibiotic Treatment For Recurrent C. diff Infection Enters Phase 2 TrialRetail Prices Of RON97, RON95, Diesel Remain UnchangedContinuous Rain, Strong Winds In Sabah Due To Tropical StormSelangor Recovers Fully From FloodsEKSAN 2024 Raises Public Awareness About Water Resources ConservationFloods: Number Of Evacuees Unchanged In Perak, Drops In SelangorBursa Malaysia Slightly Higher At Midday On Mild BuyingSOJC: Young Tigers Fall To Great Britain, Out Of Podium ContentionBudget 2025’s Significant Agricultural Funding Set To Propel Sabah’s Rice Industry – AcademicianSelangor FC Secure Second Consecutive Win To Lead Group H In ACL2Mother’s Scream For Help Saves Son From Being Kidnapped, Foreigner HeldNo Plans To Reactivate National Petroleum Advisory Council — AzalinaNRES Is Actively Developing Third National Mineral Policy – Nik NazmiWooi Yik Still Hopeful Of Entering 2024 World Tour FinalsKing Bestows ‘Royal Professor’ Title To Tan Sri Syed Muhammad Naquib Al-AttasNew Pengkalan Kempas Jetty Hoped To Draw Tourists – ExcoI Squared Announces Acquisition Of Philippines Coastal Terminal In Subic Bay, PhilippinesCAP Proposes Madani Rahmah Sale Ahead Of DeepavaliSultan Nazrin Presides Over 267th Meeting Of Conference Of RulersTDM Proposes RM1.5 Bln Sukuk Wakalah Programme IssuanceURWAH, Etiqa Takaful Provide Aid To Kedah Flood VictimsGovt Has No Immediate Plans To Develop App To Enhance Digital Security, Online SafetyTransNusa Partners With Three Malaysian Medical Centres For Passenger HealthcareMisappropriation Of “Infak” Funds: Alif Teega Maintains Not Guilty PleaGISBH Ceo Among 22 Charged With Being Members Of Organised Crime GroupBahasa Melayu Must Be A Key Player In All Sectors – FadhlinaAhmad Zahid Hails SMART’s Second Placing In International Rescue ChallengeChair Of ASEAN: Malaysia Earnest To Strengthen Regional Partnership – TiongGovt To Ensure Construction Sector Remains Competitive, Sustainable – PM181 Incidents Of Malaysia Airlines Planes Returning To Parking Position In 2024Bangladeshi Worker Falls To Death At Penang Construction SiteRinggit Continues Downtrend Amid Uncertainty Over US Presidential ElectionXsolla Reaffirms Market Leadership in Web Shop Solutions With the Most Comprehensive Feature Set and Over 400 Successful LaunchesBetter Cooperation Opportunities With Japan, South Korea In Disaster Management – DPM ZahidYunnan’s Dali Showcases Ecological Achievements At The Erhai Forum, Gaining International RecognitionCuepacs Urges MOH To Address Issue Of Healthcare Workers’ UniformsAhmad Zahid Attends ASEAN Ministerial Meeting On Disaster Management In BruneiMalaysia Elevates AI As A Catalyst For Sustainable Growth – TPM FadillahPint-sized Azlyn Farhana Finishes As Top Scorer In Canoe Polo World C’shipsAnwar’s Visit And Investment Promotion Mission Generate RM82.6 Bln In Potential Investments – MITIRecursion Announces First Patient Dosed In Phase 2 Clinical Study Of REC-3964, A Potential First-in-class, Oral, Non-antibiotic Small Molecule For Recurrent Clostridioides Difficile Infection7,400 Companies Using E-invoice System; 58 Mln E-invoices Issued As At Oct 14 — MoFBursa Malaysia Opens Higher Amid Mixed Wall Street OvernightThree Companies Qualify For Online Bid To Supply Renewable EnergyCPO Futures Hit Two-year High On Weak Production, Lower StocksThe Fletcher School At Tufts University Launches STEM-Designated International Development Economics TrackCapitaLand Malaysia Trust’s Sustainability-linked Loans Total RM752 Mln To Date
Thu. Oct 24th, 2024

Ringgit Continues Downtrend Amid Uncertainty Over US Presidential Election


KUALA LUMPUR, The ringgit continued to weaken against the US dollar on Wednesday as uncertainty surrounding the outcome of the US presidential election on Nov 5 weighed on the local currency.

At 6 pm, the local note was at 4.3490/3535 against the greenback compared with Tuesday’s close of 4.3255/3305.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Republican candidate, Donald Trump, is perceived as being more aggressive towards trade protectionism, with a policy approach that includes highly expansionary fiscal measures.

He stated that, if implemented, these policies could disrupt the global economy and lead to inflationary pressures, potentially affecting the US Federal Reserve’s (Fed) current monetary policy stance to cut interest rates. ‘As a result, traders and investors are turning to the US dollar as a safe haven currency,’ he told Bernama.

At the close, the ringgit was mostly lower against a basket of major currencies.

It edged up against the Japanese yen to
2.8484/8516 from 2.8668/8704 on Tuesday’s close but slipped against the euro to 4.6887/6935 from 4.6785/6839 and dropped vis-a-vis the British pound to 5.6433/6491 from 5.6097/6162 yesterday.

The ringgit traded mostly lower versus ASEAN currencies.

It depreciated against the Philippine peso to 7.50/7.52 from 7.47/7.49 previously, weakened against the Singapore dollar to 3.2932/2969 from 3.2879/2919 and eased against the Indonesian rupiah to 278.2/278.7 from 277.8/278.3. It rose against the Thai baht to 12.8959/9149 from 12.9089/9300.

Source: BERNAMA News Agency

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