International Traders Target Malaysia’s Ringgit

Sensing blood, global currency traders have declared war on Malaysia’s already-flagging currency, forcing Bank Negara Malaysia, the country’s central bank, to spend US$5 billion in the past month defending it. The ringgit has slumped by 21 percent against the US dollar in the past year, with the dive picking up speed. It has lost 11.98 percent of its va…