Ringgit hits new record low against Singdollar
The Malaysian ringgit has hit a fresh record low against the Singapore dollar as several regional currencies continue to stay weak.
Just three days after softening to an all-time low of RM2.622 against the Singdollar last Thursday, the ringgit fell further to RM2.624 at the start of this week.
It was hovering around RM2.6207 yesterday.
The ringgit's persistent weakness is not so much due to the Singdollar gaining strength, but rather a massive outflow of capital from emerging markets back to developed markets, experts say.