Ringgit slides to over a year's low against Singdollar

An employee at a Change Alley money changer counts a wad of Malaysian Ringgit banknotes on Nov 14, 2016.
An employee at a Change Alley money changer counts a wad of Malaysian Ringgit banknotes on Nov 14, 2016.ST PHOTO: MARK CHEONG

SINGAPORE - The battered Malaysian ringgit has fallen to its weakest level in more than a year against the Singapore dollar.

One Singdollar could buy RM3.11 on Tuesday (Nov 22), the weakest the Malaysian currency has been since last September.

The ringgit also slid to 4.433 against the US dollar - its weakest since January.

The ringgit has been Asia's worst-performing currency since Mr Donald Trump's upset victory in the United States presidential election on Nov 8, which sparked a global sell-off in emerging markets.

Malaysia's central bank has ordered foreign banks to stop offshore speculation in the ringgit, warning of "prompt supervisory intervention" against those trading the ringgit in the offshore market.