KUALA LUMPUR, June 23 — The ringgit fell further versus the US dollar today, hitting its lowest level in seven months following a negative evaluation of the country’s outlook by rating agency S&P.

At 6pm, the local note eased to 4.1600/1640 versus the greenback from 4.1590/1620 at yesterday’s close.

S&P report released yesterday affirmed Malaysia’s foreign currency and local currency long-term issuer ratings at A- and A, respectively, with a negative outlook.

Citing the report, Bloomberg said the evaluation was based on the heightened risk to the fiscal and economic recovery due to pandemic and uncertainties in the country.

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At the close, the ringgit was traded mostly lower against a basket of major currencies, except against the yen.

It eased further against the Singapore dollar to 3.0929/0964 from 3.0874/0901 at yesterday’s close, weakened versus the British pound to 5.8078/8134 from 5.7681/7723 yesterday, and fell against the euro to 4.9670/9718 from 4.9426/946.

However, it rebounded vis-a-vis the Japanese yen to 3.7488/7527 from 3.7658/7689 previously. — Bernama

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