Ringgit hits fresh 39-month high against greenback on continued expectation of another US rate cut

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KUALA LUMPUR: The Malaysian ringgit closed marginally higher on Monday but still hit a new 39-month high against the greenback on continued expectation of another cut in US interest rates after the latest inflation data there.

The local currency also slid against ASEAN currencies, except versus the Indonesian rupiah, increasing to 272.1/272.6 from 272.5/273.0 last week.

It was lower against the euro, ending at 4.6106/6162 from 4.6009/6064 and slipped against the British pound to 5.5193/5260 from 5.5178/5245 last week.

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Category: EconomyBusiness

Markets: MalaysiaChinaIndonesiaJapanSingaporeUnited States

Topics: US dollar Stephen innes Mohd afzanizam Ringgit Forex US Election Stimulus /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 19:10:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 485 words

Reading Time: 3 minutes read

Sentences: 16 lines

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Copyright Owner: © The Star

News ID: 22787709

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