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Forex News: Malaysian Ringgit Drops To 3-day Low Against U.S.

Malaysian Ringgit Drops To 3-day Low Against U.S. Dollar

01/03/2020 - 02:34:00 (RTTNews)

(RTTNews) - The Malaysian ringgit declined against the U.S. dollar in Asian deals on Friday, as a data showed that the nation's exports fell unexpectedly in November and imports dropped at a slower-than-expected rate.

Data from the Department of Statistics showed that the trade surplus came in at MYR 6.5 billion in November, which was below economists' expectations of MYR 11.0 billion.

Exports declined 5.5 percent year-on-year, imports fell 3.6 percent.

The Malaysian ringgit fell to a 3-day low of 4.1010 against the greenback from yesterday's closing value of 4.0850. The ringgit may test support around the 4.2 level, if it drops further.

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