KUALA LUMPUR - The ringgit continued to end lower Wednesday, despite an increase in the country's exports for June, dampened by the possibility of a US interest rate hike in September, a dealer said.
At 5 pm, the ringgit was quoted at 3.8760/8790 against the US dollar from 3.8520/550 on Tuesday.
The ringgit slid 0.6 per cent to 3.8780 to the dollar, its weakest since Sept 2, 1998, a day before the currency was pegged at 3.80.
The dealer said although the exports data for June was positive, the ringgit was still under pressure due to domestic political developments.
"A hike in the US interest rate is expected to come soon in September, if not October, November or December," he said, adding the situation was likely to pressure the ringgit and regional currencies.
Meanwhile, the ringgit was traded lower against other major currencies.
It fell against the Singapore dollar to 2.7986/7027 from 2.7982/7014 yesterday, decreased against the yen to 3.1160/1092 from 3.1070/1099, but higher against the euro to 4.2082/2122 from 4.2256/2297 previously.
However, the local unit was lower against the pound sterling to 6.0392/0458 from 6.0018/0084 yesterday. - BERNAMA
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