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Ringgit weakens past RM3.90, lowest in nearly 17 years

Ringgit weakens past RM3.90, lowest in nearly 17 years
The Malaysian ringgit weakened past 3.9000 per dollar on Thursday for the first time in nearly 17 years.
KUALA LUMPUR: The Malaysian ringgit weakened past 3.9000 per dollar on Thursday for the first time in nearly 17 years as local shares and government bond prices fell and concerns grew over a corruption scandal embroiling the prime minister.

The ringgit slid to 3.9000 as of 0830 GMT, its weakest since Sept. 2 1998, a day before the government pegged was pegged at 3.8000. Malaysia lifted the peg in 2005.

Kuala Lumpur stocks fell 1.2 percent.

Malaysia government's five-year bond yield rose to 3.708 percent, its highest since June 29. The 10-year yield also advanced to 4.091 percent, the highest since June 17.