Malaysian Ringgit Falls To 17-year Low Against U.S. Dollar
12 August 2015 - 4:26PM
RTTF2
The Malaysian ringgit weakened against the U.S. dollar in the
late Asian session on Wednesday, as investors were worried about
China's Yuan devaluation and slowing economic growth. Adding to it,
controversy over finances linked to Prime Minister Najib Razak also
lead the investors to flee from the nation's assets.
Against the greenback, the ringgit fell to a 17-year low of
4.0340 from an early high of 3.9600. At yesterday's close, the
ringgit was trading at 3.9270 against the greenback.
If the ringgit extends its downtrend, it is likely to find
support around the 4.06 area.
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