Ringgit poised for steepest annual decline since 1997

Kuala Lumpur

MALAYSIA'S ringgit headed for its biggest annual decline since 1997 as plunging crude prices and a political scandal involving Prime Minister Najib Razak clouded the outlook for the South-east Asian economy.

Analysts are predicting more weakness this year for Asia's worst-performing currency in 2015 as the US Federal Reserve adds to last month's increase in US interest rates, boosting the dollar, and the slowdown in China saps demand for commodities.