Malaysia's ringgit drops a few more notches against the U.S. dollar, adding to losses sustained earlier Tuesday, as crude oil prices ebbed lower again. The ringgit is still sensitive to oil prices despite data recently showing that Malaysia was a marginal net oil importer for 2014. Malaysia has historically been one of the few Asian oil exporters until now. USD/MYR rose to 3.5820 from around 3.5670 earlier, implying a weaker ringgit. Headlines in Malaysia are however focused on the Court of Appeals' verdict on the sodomy trial of ex-deputy prime minister Anwar Ibrahim - who has had his appeal rejected and is now awaiting sentencing. USD/MYR is currently at 3.5820 versus its Monday close of 3.5600, implying a 0.6% deterioration of the ringgit versus the greenback. (ewen.chew@wsj.com)
(END) Dow Jones Newswires
February 09, 2015 23:43 ET (04:43 GMT)
Description: Ringgit Slips Again, Not on Anwar Verdict, But Oil -- Market Talk
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ItemReviewed: Ringgit Slips Again, Not on Anwar Verdict, But Oil -- Market Talk
Reviewer: Unknown
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ItemReviewed: Ringgit Slips Again, Not on Anwar Verdict, But Oil -- Market Talk
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