Ringgit falls to new 1998 low as Asia sell-off sends KLCI lower
Unit comes under fresh pressure on Monday from decline in Brent crude, narrowing in oil-exporter's trade surplus
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Kuala Lumpur
MALAYSIA'S ringgit dropped to a new 1998 low and stocks fell as sentiment continues to sour for emerging-market assets amid slowing Chinese growth and prospects for a US interest-rate increase.
The ringgit came under renewed pressure on Monday from a decline in Brent crude and the narrowing in the oil-exporter's trade surplus. Data on Friday showed a mixed picture of the US jobs market, which is key for determining when the Federal Reserve will tighten policy.
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