The plunging ringgit has hit levels not seen against the Singdollar since at least 1981, amid fears that Malaysia's sovereign debt rating might be downgraded.
One Singapore dollar could buy about RM2.80 yesterday, with analysts tipping more falls ahead.
The Malaysian currency has depreciated dramatically in recent months, falling 6 per cent against the Singdollar this year.
It is under attack on multiple fronts - including strife at heavily indebted state investment fund 1Malaysia Development Berhad and plunging oil prices. Malaysia is a major oil exporter so the price slump has hit revenue hard.
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