Ringgit Plunges Again! Closed Low Against the US Dollar

<p>&nbsp;This morning, the ringgit fell against the US Dollar for the third day following a decline against the local unit.</p><p><br /></p><p>At 6 pm yesterday, the RM was seen to shrink to 4.6895 and it continued into this morning by reaching a value of 4.7180.</p><p><br /></p><p><br /></p><p>According to Bank Muamalat Bhd's head of economics and Social Finance, Dr Afzanizam said the consumer price index fell 0.2% year-on-year and October data showed the People's Bank of China will maintain its accommodative monetary stance in the near term which will further give more advantages to the US Dollar.</p><p><br /></p><p>He also said that the ringgit is expected to continue to weaken after they recorded an increase last Monday.</p><p><br /></p><p>Other ASEAN countries showed changes in depreciation such as Singapore which was 3.4493/4540 to 3.4563/4617 and Thai Baht from 12.1453/1670 to 13.1802/2065.</p>