KUALA LUMPUR, June 9 — Malaysia’s central bank said today that the weakness in the ringgit is expected to be temporary, after the currency slid to nine-year lows.

"The ringgit’s fall to levels seen during the Asian financial crisis is not reflective of Malaysia’s economic fundamentals," the Governor of Malaysia’s central bank Zeti Akhtar Aziz said in a post on the regulator’s Facebook page.

Weak prices for commodities, a key export for Malaysia, have hurt market sentiment and the ringgit. Concerns for state fund 1MDB, which has been dogged by controversy over nearly RM42 billion in debt and alleged financial mismanagement, have also undermined the currency.

The central bank said on June 3 it had launched a formal enquiry into 1MDB.

The ringgit was 0.12 per cent down at 3.76 against the dollar, recovering slightly from 3.77 yesterday, which was its lowest level since February 2006. It slumped to 3.80 during the 1998 Asian financial crisis.

Markets will begin to reflect economic fundamentals after the uncertainty subsides, the bank said on Twitter. — Reuters