Malaysian ringgit weakens past 3.9000/dollar for first time in nearly 17 years

[KUALA LUMPUR] The Malaysian ringgit weakened past 3.9000 per dollar on Thursday for the first time in nearly 17 years as local shares and government bond prices fell and concerns grew over a corruption scandal embroiling the prime minister.

The ringgit slid to 3.9000 as of 0830 GMT, its weakest since Sept 2 1998, a day before the government pegged was pegged at 3.8000. Malaysia lifted the peg in 2005.

Kuala Lumpur stocks fell 1.2 per cent.

Malaysia government's five-year bond yield rose to 3.708 per cent, its highest since June 29. The 10-year yield also advanced to 4.091 per cent, the highest since June 17.

REUTERS