(Bloomberg) -- Malaysia's ringgit fell to a more than
seven-week low on concern local companies will sell the currency
to invest overseas. Government bonds slumped.
The ringgit headed for the biggest three-day drop since May
2006 after a trade ministry report on June 4 showed exports rose
less than expected. Tanjong Plc, a Malaysian power generation
group, on May 28 agreed to pay $493 million for Globeleq Ltd. to
acquire power plants in Eqypt, Bangladesh, Pakistan and Sri Lanka.
Read more at Bloomberg Currencies News
seven-week low on concern local companies will sell the currency
to invest overseas. Government bonds slumped.
The ringgit headed for the biggest three-day drop since May
2006 after a trade ministry report on June 4 showed exports rose
less than expected. Tanjong Plc, a Malaysian power generation
group, on May 28 agreed to pay $493 million for Globeleq Ltd. to
acquire power plants in Eqypt, Bangladesh, Pakistan and Sri Lanka.
Read more at Bloomberg Currencies News
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