Malaysia's ringgit dropped against its American counterpart as it lost 0.3% to reach 3.5035 against the dollar. This decline came along with a drop in oil prices and a drop in Asian equity markets on concerns the world recovery may be slowing.

The ringgit also declined on speculation the Malaysian Central Bank will prefer having lower currency value as deflation is threatening the economy amid weak demand and low energy and raw materials prices, having in mind that weaker currency is in the favor of exports.