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Asian forex policies tested as yuan falls

KUALA LUMPUR/JAKARTA -- Currencies of Southeast Asian countries that depend heavily on China for exports were pushed down further on Wednesday, after China's central bank devalued the yuan for a second straight day.

     The Malaysian ringgit, which has fallen the most among the region's currencies this year, slid below 4.00 against the greenback for the first time since 1998. The ringgit traded at a high of 4.04 at 10:41 a.m on Wednesday. Dealers quoted by state news agency Bernama said foreigners continued to sell the currency because of falling crude oil prices and a weakening Malaysian economy.

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