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Ringgit hits new record low of 2.9109 to Singdollar

Friday, August 14, 2015 - 12:05
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Malaysia's ringgit hit a new record low against the Singapore dollar on Friday (Aug 14).

[SINGAPORE] Malaysia's ringgit hit a new record low against the Singapore dollar on Friday (Aug 14), after the Malaysian slumped to a fresh 17-year low versus the US dollar.

With the fall in oil prices increasing concerns over the country's exports, the ringgit lost as much as 2.6 per cent to 4.1180 per dollar, its weakest since Sept. 1 1998. Malaysia pegged the ringgit at 3.8000 in September 1998 and maintained it until 2005.

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