SINGAPORE (Aug  20): The ringgit tumbled on Aug 15 to an eight-month low against the US dollar as the currency crisis in Turkey continued to spook emerging markets (EMs), and the Malaysian currency is expected to remain under pressure, with many economists predicting that it will fall further this year.

On Aug 13, The New York Times reported that Turkey’s crisis — caused by soaring inflation, economic mismanagement by the Turkish government and tensions with the US — has raised concerns over whether emerging economies that have benefited in recent years from foreign investment may also be vulnerable.

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