Malaysian ringgit weakens past 3.9000/dollar for first time in nearly 17 years

The Malaysian ringgit weakened past 3.9000 per dollar on Thursday for the first time in nearly 17 years as local shares and government bond prices fell and concerns grew over a corruption scandal embroiling the prime minister. 

PHOTO: AFP

AUG 6, 20154:56 PM

[KUALA LUMPUR] The Malaysian ringgit weakened past 3.9000 per dollar on Thursday for the first time in nearly 17 years as local shares and government bond prices fell and concerns grew over a corruption scandal embroiling the prime minister.

The ringgit slid to 3.9000 as of 0830 GMT, its weakest since Sept 2 1998, a day before the government pegged was pegged at 3.8000. Malaysia lifted the peg in 2005.

Kuala Lumpur stocks fell 1.2 per cent.

Malaysia government's five-year bond yield rose to 3.708 per cent, its highest since June 29. The 10-year yield also advanced to 4.091 per cent, the highest since June 17.

REUTERS