Use dual-currency method to tap funds of Malaysians in S'pore: forex strategist

Kuala Lumpur

AS a temporary measure to inject more liquidity into the system and stem the decline in the ringgit, a foreign exchange strategist has suggested Putrajaya consider a dual-currency investment mechanism that taps the savings of the hundreds of thousands of Malaysians working in Singapore.

Independent interest rate and foreign exchange strategist Suresh Ramanathan said out-of-the-box and alternative strategies are needed in the current currency crisis that has gripped Malaysia.

A dual-currency investment mechanism - but on a macro basis - where Malaysian banks in Singapore offer Malaysians…