Ringgit breaches 4.32 at close

KUALA LUMPUR: The ringgit continued its decline at close, breaching the 4.34 level to the dollar, as lingering concerns about the prospects for global growth prompted another round of selling.
At 5pm, the ringgit was quoted 1.19% lower at 4.3450/3480 against the greenback from 4.2940/2980 yesterday.
The ringgit hit an intra-day low of 4.3500 to the dollar, after opening at 4.32 in early trade.
Traders said foreign banks continued to offload the local note, which is currently under pressure from a lack of domestic leads, as weaker crude oil prices, sustained worries about China's economy and divergence of policies among central banks dented global risk appetite.
The ringgit also continued its decline against the Singapore dollar to 3.0549/0575 from 3.0331/0364 on Tuesday and eased against the yen to 3.6151/6185 from 3.5801/5850.
The local unit depreciated further against the pound sterling to 6.6622/6690 from 6.6463/6550 and weakened against the euro to 4.8299/8341 from Tuesday's 4.8080/8133. – Bernama