Rupiah, ringgit the biggest losers against US$

Singapore

THE Indonesian rupiah and Malaysian ringgit lost the most against the US dollar on Monday as Asian markets reacted afresh to falling oil prices, a weakening euro and a broad aversion to risky trades, with some markets such as China's trading for the first time in the new year.

The euro fell to a nine-year low against the dollar, pushed down by rising speculation among market participants that the European Central Bank will soon adopt quantitative monetary easing, possibly as early as at a January policy review.