{"id":14884,"date":"2022-09-14T10:35:54","date_gmt":"2022-09-14T02:35:54","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=14884"},"modified":"2022-09-14T10:39:04","modified_gmt":"2022-09-14T02:39:04","slug":"bursa-opens-lower-ringgit-hits-new-24-year-low-against-us-dollar%ef%bf%bc","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=14884","title":{"rendered":"Bursa opens lower, ringgit hits new 24-year low against US dollar\ufffc"},"content":{"rendered":"\n

KUALA LUMPUR, September 14 <\/strong>—\u00a0The ringgit slipped further\u00a0to a fresh 24-year low\u00a0against the US dollar at the opening on Wednesday, in line with lower oil prices as more investors shifted towards safe-haven assets.<\/p>\n\n\n\n

At 9.05 am, the local currency slid to 4.5200\/5220 against the greenback from 4.5070\/5085 at yesterday\u2019s close.<\/p>\n\n\n\n

ActivTrades trader Dyogenes Rodrigues Diniz said the United States (US) Consumer Price Index (CPI) data showed higher-than-expected inflation at 8.3 per cent, versus the forecast of 8.1 per cent.<\/p>\n\n\n\n

\u201cThis higher reading left\u00a0investors wondering about\u00a0how big an interest rate hike we could see at the next Federal Reserve meeting on Sept 21.”<\/em><\/p>\n\n\n

\n
\"ringgit\"<\/figure>\n<\/div>\n\n\n

\u201cPrior to the release of the CPI data, the market was predicting a 0.5 – 0.75 increase, but now many have raised\u00a0their\u00a0forecast to a 0.75-1.0 per cent\u00a0hike,\u201d<\/em> he told Bernama.<\/p>\n\n\n\n

Diniz said the markets had responded strongly to the data, resulting in another strong appreciation of the US dollar against other currencies.<\/p>\n\n\n\n

He also noted that oil benchmark Brent crude price fell by 0.08 per cent to US$93.10 per barrel.<\/p>\n\n\n\n

Yesterday, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz was reported as saying that Malaysia is not experiencing an economic crisis just because the ringgit is trading at a low level against the greenback.<\/p>\n\n\n\n

He explained that the ringgit\u2019s performance should be viewed holistically, not just in comparison with the US dollar, as the local note has also strengthened against other currencies.<\/p>\n\n\n\n

Meanwhile, the ringgit was traded higher against a basket of major currencies.<\/p>\n\n\n\n

The local unit rose against the Singapore dollar to 3.2153\/2174 from Tuesday\u2019s close of 3.2320\/2333 and appreciated against the Japanese yen to 3.1282\/1301 from 3.1690\/1703.<\/p>\n\n\n\n

It had also advanced against the British pound at\u00a05.1989\/2012 from 5.2768\/2786 yesterday and increased against the euro to 4.5105\/5125 from 4.5818\/5833 previously.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, September 14 —\u00a0The ringgit slipped further\u00a0to a fresh 24-year low\u00a0against the US dollar…<\/p>\n","protected":false},"author":1,"featured_media":14885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-14884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-300x251.png",300,251,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT-768x644.png",640,537,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",640,537,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",940,788,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/NMT.png",567,475,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14884"}],"version-history":[{"count":2,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14884\/revisions"}],"predecessor-version":[{"id":14888,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14884\/revisions\/14888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/14885"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}