Ringgit value should be maintained
The ringgit continued to depreciate against the trend of United States dollars (U.S.) for the third consecutive day today in between the strong demand for the dollar, the selling pressure pushed the local unit, dealers said.At 5 pm, the local unit traded lower against the U.S. dollar at 3.0200/0230 from 3.0160/0190 yesterday.
Asia stock markets fall in the region and production data for Malaysia, which was released today, also contributed to the decline in dollars.
According to the Department of Statistics, industrial production index in April fell 2.2 percent over the same period last year and fell 7.6 percent compared to March this year.
Throughout the day, the local unit traded at 3.0110 to 3.0200 against the dollar.
The ringgit was mixed against other major currencies, rose against the yen to 3.7736/7797 from 3.7747/7808 and rose against the euro to 4.4174/4220 from 4.4199/4253 previously.
However, it depreciated against the Singapore dollar to 2.4527/4571 from 2.4483/4527 yesterday and fell against the British pound to 4.9658/9716 from 4.9360/9421. - BERNAMA
