The ringgit settled lower for the ninth straight day today as concerns over the United States (US) raising interest rates soon continued to bolster demand for the safe-haven US dollar.

Sell-off in the domestic currency market saw the ringgit trading at a 16-month low of 4.2400 earlier.

At 6pm, the ringgit stood at 4.2370/2400 against the greenback from 4.2295/2300 at yesterday’s close.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said...