A 26 years record..

 Malaysia's ringgit hit its lowest level since the Asian financial crisis on Tuesday (Feb 20), as emerging Asian currencies suffered against the dollar.

In trade on Tuesday, the Malaysian ringgit fell nearly 0.3 per cent to almost 4.8 against the greenback, its worst reading since January 1998 during the Asian financial meltdown.

Malaysia's central bank governor Datuk Abdul Rasheed Ghaffour said on Tuesday that the currency's performance had been affected by "external factors" such as US rate hikes, geopolitical concerns and uncertainty about China's economic prospects.

"The current level of the ringgit does not reflect the positive prospects of the Malaysian economy going forward," he said in a statement.

He said expected growth in global trade and Malaysian exports should have a positive impact on the currency this year.

Remark: The Singdollar was trading at RM3.568 at 7pm on Feb 20.


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