Lower global oil prices as well as a strengthening US dollar are among factors putting pressure on major Asian currencies this year. – The Malaysian Insider file pic, January 5, 2015.
The ringgit today fell to a five-year low against the US dollar, which continued its climb against other major currencies.
Bloomberg reported that as of 11.02am, the ringgit depreciated 0.6% to 3.5390 a dollar after last week’s 0.7 percent loss
"That’s the lowest level since September 2009," it said, citing data it compiled.
Bernama earlier reported that as at 9.05am, the ringgit was quoted at 3.5230/5260 against the the US dollar, compared with 3.5150/5170 on Friday.
Except for the yen, it was traded mostly higher against other currencies.
Last month, Bloomberg quoted Dominic Bunning, senior currency strategist at HSBC Holdings Plc in Hong Kong, as saying that major Asian currencies would take a beating in 2015 from the dollar's strength as well as lower oil prices.
- TMI
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