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Ringgit slips further as oil prices drop, US feds hike rates

The ringgit extended its downtrend to open lower against the greenback today, weighed by declining oil prices and after the US central bank delivered a steep interest rate hike.

At 9am, the local currency fell to 4.5665/5700 against the greenback from 4.5520/5550 at yesterday’s close.

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