29 Sep '15, 7am

Malaysian ringgit continues to slide; S$1 = RM 3.12

SINGAPORE: The Malaysian ringgit hit a new low of 3.1248 against the Singapore dollar on Tuesday morning (Sep 29), on renewed concerns over the uncertainties in regional and global economies. At around 11am, the ringgit had hit an intra-day low of around 3.1269 from 3.0964 on Monday. However, the currency recovered slightly to trade around 3.1248 by 12pm. The ringgit, which is Asia’s worst performing currency, also hit a new 17-year low of around 4.46 to the US dollar earlier on Tuesday. Some traders attributed the ringgit's weakness to the continued decline in crude oil prices as this will weigh on the earnings for the region's major net oil exporter. China's deepening economic slowdown and the probe into 1Malaysia Development Bhd (1MDB) by the US Federal Bureau of Investigation had also worsened sentiment on the ringgit. Meanwhile, the Singapore dollar touched a six-year...

Full article: http://www.channelnewsasia.com/news/singapore/malaysian-r...

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[Mothership] Ringgit falls to 17-year low against Singdollar: RM3.12 to S$1 #SGnews

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