Ringgit slides further, touches 4.59 against US dollar at opening

The ringgit continued to go down against the US dollar on Monday, dragged down by market volatility that was triggered by the recent steep US interest rate increase and the expectation of more hikes to come, said a dealer.

At 10.39am, the local currency fell to 4.5960/5980 against the greenback from last Friday’s 4.5775/5800.

The ringgit opened at 4.5910/5950 against the dollar today.

Bank Islam Bhd chief economist Firdaos Rosli said the US dollar index emerged stronger, hitting 113.19, on the expectation...