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Ringgit falls to 14-month low despite central bank moves

KUALA LUMPUR -- The Malaysian ringgit fell to 4.46 against the U.S. dollar on Friday, its lowest level since September 2015, despite moves by the country's central bank to stabilize the currency.

The Malaysian currency has lost over 1% of its value this week, with concerns about foreign fund outflows deepening. The dollar has strengthened nearly 6% so far this month, as expectations of an imminent rise in U.S. interest rates became firmer, following recent data indicating stronger business equipment orders.

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