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

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 last week to within 0.7 per cent of a 3.80 peg imposed by former prime minister Mahathir Mohamad in 1998, during Asia's financial crisis.