Malaysian Ringgit Falls on European Debt Concerns

The Malaysian ringgit weakened today as the threat of the spreading sovereign-debt crisis in Europe drove the investors to the safety of the U.S. dollar away from the Asian currencies.

The Asia Dollar Index slid 0.2 percent and the MSCI Asia Pacific Index slipped 0.4 percent. The concerns about the European crisis strengthened after the European Commission said that the European nations urgently need to cut their budget deficits and the countries with the big debts may be required to take the severe measures.

USD/MYR rose to 3.2675 as of 9:03 GMT today from its opening level of 3.2555.

If you have any questions, comments or opinions regarding the Malaysian Ringgit,
feel free to post them using the commentary form below.