KUALA LUMPUR: The ringgit fell to a 10-year low in cautious trading following concerns over Greece’s debt default, dealers said.
At 5 pm, the local note was quoted at 3.7825/7855 against the greenback from 3.7660/7690 on Friday.
Jitters over a possible Fitch Ratings downgrade on Malaysia had also undermined the local currency.
One dealer said the greenback continued its upward momentum as US consumer spending in May recorded its larges increase in nearly six years and this supported expectation of an imminent hike in US interest rates later this year.
The local note also closed lower against other major currencies except the euro.
It weakened against the Singapore dollar to 2.8004/8045 from 2.7996/7020 on last Friday and eased against the yen to 3.0762/0799 from 3.0516/0543.
The ringgit trimmed against the British pound to 5.9400/9459 from 5.9318/9369, but strengthened against the euro to 4.2016/2061 from 4.2194/2235 last Friday. – BERNAMA