This was from the property thread I believe more suitable in this thread:

RM drop bcoz of foreign investors dumping Msian stock, bonds and currency (RM). 'Hot money' as they are known.
Especially on the bond side, interest rate should rise. Hence OPR, BLR, KLIBOR should rise in tandem. Theoretically, this give burden to borrowers with higher monthly installment and squeeze them to dump their property.... price drop.

However, Pn Zeti maintain OPR. Meaning they have the foreign reserves to buy back the bonds to maintain the rates. Hence BLR will maintain and property will be fine. BNM probably focus more on bond buying that RM because it's link to lending rate thus business, properties etc that are on loan will not be badly affected. That's why RM decreases in value. However, in currency war the objective is to have weaker currency to improve export. On the bad side, inflation will affect the Rakyat.

Other emerging markets are feeling the pressure on hot money leaving their countries, Argentina, South Africa, India, Indonesia etc... had increase rate.