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Europe Weakens Asian Currencies, Malaysian Ringgit Down

September 6, 2011 at 13:07 by Vladimir Vyun

Malaysian RinggitThe Malaysian ringgit fell today, together with other Asian currencies, as concerns about Europe’s problems intensified after Germany’s ruling party lost vote, reducing prospects for Asian exports.

The MSCI Asia-Pacific Index of shares dropped as much 1.4 percent, falling 5.1 percent in the last three sessions. The Bloomberg-JPMorgan Asia Dollar Index, tracking Asia’s 10 most-traded currencies excluding the yen, slid to 119.21, the lowest level in more than a week. The Stoxx Europe 600 Index posted yesterday the biggest two-day decline since March 2009 on the speculation about the disagreement between European leaders and the International Monetary Fund about bailing out indebted nations of Europe.

USD/MYR advanced from 2.9790 to 2.9825 as of 13:03 GMT today.

If you have any questions, comments, or opinions regarding the Malaysian Ringgit, feel free to post them using the commentary form below.

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