Ringgit down more than 1pct to near 10-month low


Modified 17 Nov 2016, 8:37 am

Malaysia’s ringgit extended losses by more than 1 percent to hit a near 10-month low as concerns grew over potential capital controls, hurting government bonds.

The ringgit fell 1.1 percent to 4.3920 per dollar, its weakest since Jan 20.

Malaysia's government bond prices slid with the 10-year yield, hitting 4.227 percent, the highest since Jan 11.

The central bank has demanded that foreign banks make a written commitment to stop trading offshore non-deliverable forwards in its latest move to protect a weakening currency, banking sources said.

- Reuters