Ringgit in Biggest Weekly Slide of 2015 as Stock Outflows Mount
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Malaysia’s ringgit posted its worst weekly loss of 2015 and stocks slid by the most since May as investors pulled funds amid a slump in oil and a political scandal involving Prime Minister Najib Razak.
The ringgit and the benchmark share index both fell more than 2 percent from July 31, with the currency trading at a 17-year low against the dollar just six weeks before the Federal Reserve decides on a possible increase in U.S. interest rates. Global funds have dumped $3 billion of equities in 2015, the biggest outflow since 2008, and also cut bond holdings in July.