ID :
376284
Tue, 08/04/2015 - 13:47
Auther :

Global Economic Uncertainties Influencing Malaysian Ringgit's Movement: Minister

PUTRAJAYA (Malaysia), Aug 4 (Bernama) -- Malaysia's economy remains fundamentally sound, but the ringgit's performance is being largely influenced by current global economic uncertainties. Second Finance Minister Ahmad Husni Hanadzlah cited Greece and China as two countries whose productivity had fallen, but Malaysia's economy was still growing. "It is not only the ringgit. Currencies globally are being pitted against the US dollar. The greenback had been appreciating against many other currencies," he added. He told reporters this after chairing the 2016 Budget Focus Group themed, "Enhancing Inclusiveness for Well-Being of the People", here Tuesday. Earlier on Tuesday, the ringgit was traded at 3.8665/8695 against the greenback from the 3.8510/8550 recorded on Monday. Ahmad Husni said speculation on a potential interest rate hike in the US had also dampened appetite for the local unit. --BERNAMA

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