Ringgit falls to new 24-year low as it touches 4.60 to US dollar

The ringgit continued its downtrend against the US dollar in today’s closing as reduced investor risk appetite pushed the ringgit to a new 24-year low.

At 6pm, the local currency depreciated to 4.6030/6045 against the greenback from 4.5775/5800 from last Friday’s closing.

UOB Kay Hian Wealth Advisors Sdn Bhd head of wealth research and adviser Mohd Sedek Jantan said the ringgit is expected to...