Ringgit flight continues, currency hits fresh 17-year low

Kuala Lumpur

THE ringgit tumbled by about one per cent against the US dollar to 4.1855 on Friday, as investors shrugged off Prime Minister Najib Razak's assurances the day before that Malaysia's economic resilience would see it through the current political and currency crises without the need for capital controls or a currency peg.

The currency tumbled to a new 17-year low ahead of Bank Negara's release of its international reserves as at Aug 15. As expected, they have continue to decline; over the past …