A delegation led by CEO of Dpworld Sub-continent Rizwan Soomar calls on State Minister for Shipping Khalid Mahmud Chowdhury at the latter’s office of the ministry on Tuesday. NN photo

Malaysia ringgit hits 16-yr low

AFP, Kuala Lumpur :Malaysia’s ringgit hit a 16-year low Monday on growing political uncertainty following allegations that a probe into a state investment fund found hundreds of millions of dollars were transferred into the prime minister’s personal accounts.The currency dropped 0.8 percent to 3.8088 against the greenback in Kuala Lumpur, the lowest level since May 1999.The currency was fixed at 3.8 to the dollar in 1998 during the Asian financial crisis after it slumped 35 percent the previous year. The...

7 Jul 2015, 12:00 am