The 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.
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