SINGAPORE (REUTERS) - Malaysia's ringgit fell more than 1 per cent to a near 10-month low on Monday (Nov 14) as most government bond prices extended losses, while investors remained cautious of possible measures by the central bank to defend the currency.
The ringgit slid to 4.3250 per US dollar, its weakest since Jan 22, as of 0101 GMT. Malaysia's five-year government bond yield hit 3.707 per cent, the highest since February.
Against the Singapore dollar, the ringgit was also trading at 10-month lows, down 0.46 per cent to 3.0619. It last crossed the 3.06 level in January when it closed at 3.0686 on Jan 12.
Bank Negara Malaysia on Saturday said the central bank was taking measures to reinforce existing rules that are in place to prohibit facilitation of offshore trading of the ringgit.
With additional information from the Straits Times