You are here

Malaysia's ringgit down more than 1% to near 10-month low

Thursday, November 17, 2016 - 15:07

4_101487.9 (40509465) - 11_11_2016.jpg
Malaysia's ringgit extended losses by more than one per cent to hit a near 10-month low as concerns grew over potential capital controls, hurting government bonds.

[SINGAPORE] Malaysia's ringgit extended losses by more than one per cent to hit a near 10-month low as concerns grew over potential capital controls, hurting government bonds.

The ringgit fell 1.1 per cent to 4.3920 per US dollar, its weakest since Jan 20.

Malaysia's government bond prices slid with the 10-year yield hitting 4.227 per cent, the highest since Jan 11.

The central bank has demanded that foreign banks make a written commitment to stop trading offshore non-deliverable forwards in its latest move to protect a weakening currency, banking sources said.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom