Asia Forex hit: Ringgit around 9-1/2-yr low

File pic shows money changer holding Malaysian ringgit and US dollar. - AZMAN GHANI/The Star

SINGAPORE: Emerging Asian currencies lost ground on Monday with the Malaysian ringgit around a 9-1/2-year low as Greece was seen on course to a default on its debt repayment this week, causing investors to seek safer assets.

China's central bank on Saturday cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserve, but investors focused on Greece's debt saga.