Ringgit weakens against greenback amid lower demand for local assets

THE ringgit fell further against the US dollar amid bearish local risk sentiment as investors digested the United States (US) inflation data for January, which pointed to the possibility of a longer string of interest rate hikes.

At 6pm, the ringgit eased to 4.3900/3945 versus the greenback from yesterday’s closing level of 4.3455/3495.