Malaysia lets ringgit fall below level that prompted dollar peg
More downside pressures seen with US rate hike, but S&P rating still A-, "stable"
Wed, Jul 29, 2015 - 5:50 AM
Malaysian ringgit banknotes.
FOR the past three weeks, the Malaysian authorities have allowed the ringgit to trade at below levels that in 1998 prompted them to impose a dollar peg and capital controls. Economists expect more downside, with the Federal Reserve set to raise US interest rates.