Malaysian ringgit sinks as China ripples spread - FT.com:
"The Malaysian ringgit suffered its steepest one-day fall since the Asian financial crisis on Friday, as the effects of China’s new currency regime continued to ripple across the region.
The ringgit tumbled as much as 2.8 per cent in morning trading to 4.127 against the US dollar, its lowest level since 1998. Asian currencies have been hit this week by a state-engineered slide in the renminbi, with Malaysia the worst affected.
Currency watchers say Malaysia’s central bank has opted to step back from intervening in the market in response to the falling renminbi, unleashing pent-up downward pressure on the ringgit."
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