Ringgit Declines to Three-Year Low on Current-Account Concern

Malaysia’s ringgit fell to a three-year low and government bonds retreated on concern over the nation’s worsening current-account position.

The currency declined the most since July 31 after official data last week showed the surplus in the broadest measure of trade shrank 70 percent in the second quarter from the first. Fitch Ratings lowered its outlook on Malaysia to negative from stable last month, citing public debt levels. The Federal Reserve will begin to slow its bond purchases at its Sept. 17-18 meeting, according to 65 percent of economists in a Bloomberg News survey.