Ringgit nearing crisis peg as Zeti's optimism not shared by everyone

Macquarie Bank is reviewing year-end forecast of 3.75 per US dollar after currency sinks to within 0.7% of 3.80 peg imposed by Mahathir in 1998

Tue, Jun 16, 2015 - 5:50 AM

The ringgit is down 5.3 per cent at 3.7635 per US dollar in the past month, Asia's worst performance, and analysts are once again lowering end-2015 projections.

PHOTO: AFP

Kuala Lumpur

MALAYSIA'S ringgit is sliding towards its fixed exchange rate of a decade ago and central bank assurances the weakness will prove temporary aren't convincing everyone.

Macquarie Bank Ltd is reviewing its year-end forecast of 3.75 per US dollar after the currency sank...