KUALA LUMPUR (June 13): The ringgit weakened past 4.41 against a strengthening US dollar on Monday (June 13) after the US reported last Friday that May 2022 inflation accelerated at a faster-than-expected month-on-month pace of 1%. The US Dollar Index, which measures the value of the US dollar against a basket of foreign currencies, rose 0.62% to 104.77. "Following the broad strength in US dollar, ringgit and other regional currencies also depreciated last week. Ringgit weakened to RM4.402, back to the level last seen in Mar-20," MIDF said. "So, it's going to be a weak ringgit this week along with other regional currencies due to a stronger US dollar," he told Bernama.

Source: The Edge Markets June 13, 2022 07:53 UTC