Ringgit hits 4-week low as inflation, oil dim prospects
The ringgit fell to a four-week low as its oil-related losses were exacerbated by forecasts Malaysia's inflation quickened to the fastest in seven years. The currency led a drop in emerging markets on Wednesday as the commodity resumed declines, dimming the outlook for Malaysia’s finances as a net oil exporter.
The currency weakened 1.2% to 4.2443 a dollar as of 10.41am in Kuala Lumpur and touched 4.2467, the lowest since January 28, according to prices from local banks compiled by Bloomberg.
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