The ringgit has fallen to its weakest level in five years against the US dollar amid concerns that plummeting crude oil price will impact the Malaysia's revenue and hurt its gross domestic product.

According to Bloomberg , the ringgit slid 0.5 percent to 3.4885 per US dollar as of 9.26am today.

Earlier, the ringgit went as low as 3.4981, the lowest level since September 2009.

The ringgit’s slide against the US dollar was further aggravated by the strengthening of the latter currency.

According to the report, the strengthening US dollar was aided by positive job data where 321,000 jobs were added in November.

“The dollar strengthened across the board following the stronger-than-expected payrolls number,” Australia and New Zealand Banking Group Ltd's Singapore-based strategist Khoon Goh was quoted as saying by Bloomberg.

“In addition, oil prices remain under downward pressure, which is also weighing on the ringgit,” he added.