Ringgit Falls to 25-Year Low, the Worst Performer in Asia After Yen This Year
- Malaysia policy rate at record low versus Fed fund rate
- Exports have contracted for seven straight months to September
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The Malaysian ringgit fell to its lowest level since the Asian Financial Crisis as the currency was weighed down by the nation’s widening rate differential with the US.
The currency dropped as much as 0.5% to 4.7703 per dollar, the weakest since 1998. It’s the worst performer in Asia this year after the yen.