Lingering concerns over global oil demand could potentially drag down the ringgit this week.. ― Picture by Sayuti Zainudin
In a note, the research firm said the lingering concerns over global oil demand could drag crude oil prices lower, potentially pushing ringgit to trade lower this week. Kenanga expects the local currency to depreciate by 0.18 per cent to 4.159 against the greenback from its closing price of 4.152 on last Friday.
“Conversely, a potential downside could tilt the pair towards 4.145 and 4.139 support level,” it added.
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