More currency falls in Far East

There have been further sharp falls in south-east Asian currencies, after New Year warnings from some regional leaders that economic problems will get worse before there's an improvement.

The Malaysian ringgit and the Philippines peso fell to their lowest value yet against the dollar, and the Indonesian rupiah lost about fifteen percent of its value during the day.

The BBC Business Correspondent says the warnings from regional leaders should have been welcomed by the currency markets as a sign that governments would risk taking unpopular measures to restore confidence.

But instead doubts remain among investors.

From the newsroom of the BBC World Service