Malaysia’s ringgit posted its biggest three-day drop in more than two months after the International Monetary Fund cut its world growth forecast, dimming the appeal of emerging-market assets.
The ringgit led losses among developing-nation currencies on Wednesday amid rising demand for the dollar as traders revisited bets for a Federal Reserve rate increase by December following strong housing and retail-sales data.
Malaysia lowered borrowing costs last week for the first time in seven years.