Ringgit weakens as commodities retreat crimps revenue outlook

"The further slump in the oil prices will definitely raise investors' concern over commodity-currencies, particularly Malaysia, which relies on oil and gas revenues," an analyst said.

The Bloomberg Commodity Index declined 1.4 percent Monday, the biggest loss in a month, after China reported industrial output and fixed-asset investment data for September that missed economist estimates.

Malaysia’s government gets 22 percent of its revenue from oil-related exports and Prime Minister Datuk Seri Najib Razak is scheduled to deliver his 2016 annual budget plan on Friday.