Malaysian ringgit's fall puts central bank, government on alert

KUALA LUMPUR/SINGAPORE -- The beleaguered Malaysian ringgit is testing levels not seen since the depths of the Asian financial crisis more than a quarter century ago, causing officials to step up their rhetoric to try and stem the slide.

The ringgit hit a 26-year low of 4.7965 to the greenback on Feb. 20. Three days later, Prime Minister Anwar Ibrahim called the decline "concerning," but "under control." Then on Feb. 29, a top Finance Ministry official said Bank Negara Malaysia, the central bank, is prepared to defend the ringgit by selling some dollar reserves.