Mid east oil prices domino effect on Asia currency

As the tension in the Middle East esalates, the pressure is being felt on the ruppiah and the ringit

Mid east oil prices domino effect on Asia currency

World Bulletin / News Desk

The ringgit and rupiah were at the most weakes in three weeks after the escalation of tensions between Iran and Saudi Arabia bolstered demand for the dollar.

The benchmark KLCI stock index retreated while a gauge of the greenback climbed as Saudi Arabia severed diplomatic ties with Iran after its embassy in Tehran was attacked to protest the Saudis’ execution of a prominent Shia cleric.

The ringgit lost ground even as Malaysia’s oil export revenues stood to gain from a rise in Brent crude to a three-week high.

source: Malaysia insider

Last Mod: 04 Ocak 2016, 09:28
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