If there is one song that best describes the situation that the Ringgit is in now is, the 1990's hit by Kenny Loggins called the DANGER ZONE.
Bloomberg has the story. Read Below. Read CAREFULLY.
Even after Malaysia’s central bank intervened last week in currency markets, the ringgit keeps on sliding down. It dropped as much as 0.5 percent on Tuesday to 4.4420 per dollar, closing in on the 4.48 it reached in September of last year that was the lowest since the Asian financial crisis that sent it spiraling down in 1998 and prompted the imposition of capital controls.
The currency is tumbling as -- investors dumped 1.1 billion ringgit ($248 million) of Malaysian stock's last week, the most since JUNE.
