The Malaysian ringgit on Friday (21 August) fell to a new low against the Singapore dollar, now down to 2.9678 ringgit per S$1 at around 2pm, up from 2.9463 at its close on Thursday.
The ringgit also weakened to a fresh 17-year against the US dollar. It was down nearly 1.0 percent to 4.1845 against its US counterpart, its weakest since August 1998. This decline follows after investors awaited foreign exchange reserve data for signs on how much ammunition the central bank has left to defend the currency.
Malaysia will release the reserves data as of mid-August at 6pm today. Its international reserves fell below the US$100 billion mark in July.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
