Federal Reserve expected to raise rates again this year to bring inflation down to 2% target.
KUALA LUMPUR: The ringgit remained marginally lower against the US dollar today, in line with other emerging currencies, driven by concerns over the bearish economic outlook, dealers said.
Back home, Bank Negara Malaysia governor Abdul Rasheed Ghaffour said Malaysia’s economy remains resilient while anchored by domestic-oriented activities and will continue to be supported by labour market conditions and investments moving into next year. At 6pm, the local currency slipped to 4.7215/4.7255 against the greenback from yesterday’s close of 4.7150/4.7195.However, it went down against the yen to 3.1504/3.1533 from 3.1492/3.1524 at yesterday’s close.
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