[ad_1]
Diniz said the markets had responded strongly to the data, resulting in another strong appreciation of the US dollar against other currencies.
He also noted that oil benchmark Brent crude price fell by 0.08 per cent to US$93.10 per barrel.
On Tuesday, Finance Minister Tengku Zafrul Tengku Abdul Aziz was reported as saying that Malaysia is not experiencing an economic crisis just because the ringgit is trading at a low level against the greenback.
He explained that the ringgit’s performance should be viewed holistically, not just in comparison with the US dollar, as the local note has also strengthened against other currencies.
Meanwhile, the ringgit was traded higher against a basket of major currencies.
The local unit rose against the Singapore dollar to 3.2153/2174 from Tuesday’s close of 3.2320/2333 and appreciated against the Japanese yen to 3.1282/1301 from 3.1690/1703.
It had also advanced against the British pound at 5.1989/2012 from 5.2768/2786 yesterday and increased against the euro to 4.5105/5125 from 4.5818/5833 previously.
[ad_2]
