{"id":14959,"date":"2022-09-22T12:32:29","date_gmt":"2022-09-22T04:32:29","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=14959"},"modified":"2022-09-22T12:32:30","modified_gmt":"2022-09-22T04:32:30","slug":"ringgit-extends-downtrend-as-oil-declines-and-us-raises-interest-rates","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=14959","title":{"rendered":"Ringgit extends downtrend as oil declines and US raises interest rates"},"content":{"rendered":"\n

KUALA LUMPUR, Sept 22<\/strong> — The ringgit extended its downtrend to open lower against the greenback today, weighed by declining oil prices and after the US central bank delivered a steep interest rate hike.<\/p>\n\n\n\n

At 9 am, the local currency fell to 4.5665\/5700 against the greenback from 4.5520\/5550 at yesterday\u2019s close.<\/p>\n\n\n\n

The benchmark Brent crude oil price fell 0.50 per cent to US$89.38 per barrel.<\/p>\n\n\n\n

Oil prices continued to slide on Thursday after the US Federal Reserve (Fed) hiked interest rates by 75 basis points to a range of 3.00 to 3.25 per cent – the highest level since 2008.<\/p>\n\n\n

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

“Oil prices were already trending down ahead of the (Fed) meeting and continued to decline further after the rate hike announcement as higher interest rates would translate to a stronger dollar,”<\/em> said a dealer.<\/p>\n\n\n\n

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

It rose against the Japanese yen to 3.1622\/1650 from 3.1633\/1656 at yesterday\u2019s close and inched up versus the Singapore dollar to 3.2168\/2197 from 3.2217\/2243 previously.<\/p>\n\n\n\n

The local note appreciated against the British pound to 5.1277\/1317 from 5.1629\/1663 on Wednesday and rose vis-a-vis the euro to 4.4825\/4859 from 4.5197\/5227 previously.<\/p>\n\n\n\n

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

KUALA LUMPUR, Sept 22 — The ringgit extended its downtrend to open lower against the…<\/p>\n","protected":false},"author":1,"featured_media":14960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[524],"tags":[],"class_list":["post-14959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-300x251.png",300,251,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design-768x644.png",640,537,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",640,537,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",940,788,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/09\/Untitled-design.png",567,475,false]},"author_info":{"info":["Editor"]},"category_info":"Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14959","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=14959"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14959\/revisions"}],"predecessor-version":[{"id":14961,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/14959\/revisions\/14961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/14960"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}