You are here

Ringgit at 17-yr low as global funds sell stocks, bonds

It slumped as much as 2.8% before closing 1.7% down at 4.0795 a US dollar in KL

IN A TAILSPIN: China's surprise devaluation put more downward pressure on the ringgit and shares, which were already reeling from falling crude and a scandal involving Prime Minister Najib Razak.

MALAYSIA'S ringgit plunged the most since 1998 on concern the nation is running out of ammunition to defend its currency amid a political scandal, a yuan devaluation and slumping oil prices. Stocks and bonds tumbled.

The ringgit led a retreat in Asia this week as governor Zeti Akhtar Aziz...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to