Ringgit Sharply Lower Against US Dollar

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KUALA LUMPUR, Nov 19 – The ringgit was traded sharply lower against the US dollar in early trade today, with the local currency declining to its lowest lower in more than four years on expectation of increases in US interest rates by 2015, dealers said. The ringgit was also impacted by lower economic growth for the third quarter.

The ringgit stood at 3.3560/3580 from 3.3540/3560 yesterday. Against the Singapore dollar, the ringgit was higher at 2.5815/5835 from 2.5850/5885 yesterday and rose against the yen at 2.8664/8693 from 2.8745/8767 previously. The ringgit was lower against the euro at 4.2017/2049 from 4.1902/1937 yesterday and higher against the British pound at 5.2391/2435 from 5.2510/2548 previously.

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