Ringgit hits 18 year low against US dollar
The drop in the ringgit was attributed to the fact that the country’s economy, which is Asia’s third largest, was badly affected by investors’ suspension of their investments in emerging markets after the US election.
Malaysia’s central bank reportedly told foreign banks not to make long-distance speculations on the ringgit and warned that it can intervene with the businesses of those who have been trading the ringgit in the non-deliverable forwards market.
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