皇冠信用网开户（www.hg108.vip）:Ringgit under pressure as oil retreats and China cuts interest rates
电报群组大全（www.tg888.vip）是一个Telegram群组分享平台，飞机群组内容包括telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容，为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
KUALA LUMPUR: The ringgit ended on a bearish note today amid worries over China’s economic slowdown after it cut interest rates unexpectedly on Monday as the country reported weaker-than-expected industrial production and retail sales figures.
At 6 pm, the local currency slid to 4.4570/4595 versus the greenback from Friday’s close of 4.4435/4455.
A trader said that the yuan, with which the ringgit has a strong correlation, was also under pressure after the People's Bank of China reduced its key policy rates for the first time since January, slashing the one-year medium-term lending facility by 10 basis points to 2.75 per cent.
"It was also reported that China’s surveyed jobless rate for those aged between 16-24 jumped to 19.9 per cent in July from 19.3 per cent in the previous month, a new record high.
"In addition, COVID-19 lockdown fears in China also continued to persist,’’ the trader told Bernama.,
In the oil market, prices continued to decline following the Organisation of the Petroleum Exporting Countries (OPEC) move to lower its oil demand forecast for 2022.
Brent eased US$4.35 to US$93.80 per barrel and the West Texas Intermediate Crude dropped US$4.03 to US$88.06 per barrel.
Meanwhile, the ringgit was mostly higher against a basket of major currencies.
It increased against the Singapore dollar at 3.2379/2402 from 3.2406/2428 at Friday’s close, appreciated versus the British pound to 5.3796/3826 from 5.3975/3999 and rose compared against the euro at 4.5488/5514 from 4.5759/5780.
However, the local unit weakened vis-a-vis the Japanese yen at 3.3393/3415 from 3.3292/3310 previously. - Bernama