You are here

Ringgit poised for steepest annual decline since 1997

Slide may slow in 2016 as Brent prices steady after hitting 11-year low

BT_20160101_RINGGIT_2046395.jpg
Malaysia's ringgit fell the most in almost two months and Indonesia's rupiah recorded its biggest decline since October as an escalation of tensions between Iran and Saudi Arabia bolstered demand for the dollar.

Kuala Lumpur

MALAYSIA'S ringgit headed for its biggest annual decline since 1997 as plunging crude prices and a political scandal involving Prime Minister Najib Razak clouded the outlook for the South-east Asian economy.

Analysts are predicting more weakness this year for Asia's