PETALING JAYA: The ringgit’s exchange rate dropped to 3.91 against the US dollar, which is a new 17-year low, as the sell-off in the stock market intensified amid weakening growth prospects continuing to weigh down on investor sentiment.
A drop in the price of Brent crude oil, the benchmark for Malaysian petroleum products, back to below US$50 a barrel and falling prices of crude palm oil (CPO) to near RM2,000 a tonne added to the uncertainties.
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