You are here
Malaysia ringgit down 1% on global growth concerns, FBI probe report
[SEOUL] Malaysia's ringgit fell more than 1 per cent on Monday as most emerging Asian currencies slid on concerns over global economic growth, especially in China, after the US Federal Reserve left interest rates unchanged last week.
The ringgit came under further pressure after the Wall Street Journal reported that the US Federal Bureau of Investigation (FBI) launched an investigation into allegations of money-laundering at troubled state investment fund 1Malaysia Development Berhad.
The Malaysian unit slid 1.1 to 4.2550 per dollar as of 0507 GMT from the previous close of 4.2070.