KUALA LUMPUR (Nov 13): The ringgit continued its downtrend against the US dollar in the early session today as expectations of an interest rate hike by the US Federal Reserve (Fed) next month hampered demand for the local note.
At 9.17 am, the ringgit stood at 4.1940/1970 versus the greenback from 4.1860/1900 at the close yesterday.
A dealer said the greenback rose to its 16-month high yesterday as market players strongly believed that the Fed would increase interest rates next month, which renewed the ringgit's weakness.
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