What’s next for the ringgit?
Add BT as a preferred source
Sharon See
THE Malaysian ringgit has slumped against the US dollar to a level not seen since the Asian financial crisis – a quarter of a century ago. Against the Sing dollar, it has also hit fresh lows repeatedly over the past year.
As the beleaguered currency headed dangerously close to its all-time low of 4.885 against the US dollar in January 1998, Bank Negara Malaysia (BNM) governor Abdul Rasheed Ghaffour issued a statement blaming “external factors”.
“The current level of the ringgit does not reflect the positive prospects of the Malaysian economy going forward,” he said.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Taiwan’s wealthy seeks diversification to Singapore, sparking private banking race: Bloomberg
Serenity Park condo owners lower asking price to S$440 million in second shot at collective sale
SGX to roll out post-trade custody model, changes to bid mechanics in July, cut board lots in October
