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Ringgit hovers near financial crisis peg as troubles mount

Currency reserves fall US$5b in 2 weeks as Bank Negara protects currency from 1MDB political fallout

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Since early July, the ringgit has remained close to 3.8 to the US dollar.

Singapore

PROTECTING the ringgit from political fallout out may end up costing Malaysia more than any bailout for the debt-ridden 1 Malaysia Development Berhad (1MDB) state fund, given the rate at which the central bank has been using its reserves in recent weeks.

Bank Negara

sentifi.com

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