Ringgit sell-off continues for 9th straight day

The ringgit settled lower for the ninth straight day today as concerns over the United States (US) raising interest rates soon continued to bolster demand for the safe-haven US dollar.

Sell-off in the domestic currency market saw the ringgit trading at a 16-month low of 4.2400 earlier.

At 6pm, the ringgit stood at 4.2370/2400 against the greenback from 4.2295/2300 at yesterday’s close.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said...