The Malaysian Ringgit, which is already at a 17-year low, slipped further to a new bottom of 4.4110 to one US dollar.

The ringgit had been on a downtrend since midday after opening at 4.3877 to a US dollar this morning.

However, the Malaysian currency recovered slightly at 1.30pm to sit at 4.4038 to a US dollar.

The ringgit lost more than 30 percent of its value in the last year.

Prime Minister Najib Abdul Razak's ( photo ) announcements to strengthen the country's economy on Sept 14 only gave a brief respite last week before the ringgit continued its downward fall.

The Kuala Lumpur Composite Index (KLCI) is also in the red today, falling 0.37 percent to 1609.03 at 1.30pm.

KLCI had been on an upward trend, climbing from 1639.63 to 1681.54 points after Najib announced government-linked companies will inject RM20 billion into the stockmarket.

However, like the ringgit, the recovery was also short-lived and had been on a downward trend since Sept 18.

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