Friday, August 07, 2015

Malaysian Ringgit sliding

On Monday, the Malaysian Ringgit hit a 17-year low of 3.8517 against the US dollar.

An image of presumably a money-changer counting some RM100 bills. Image courtesy of The Star.

As Malaysians anxiously watch the ringgit heading south, businessmen have begun debating whether the 1998 pegging formula can work its magic again.

Some are all for the move, which was credited to have halted Malaysia’s economic decline during the 1997/1998 Asian Financial Crisis but there are also those who are not so keen on a fixed exchange rate.
More from The Star...Businessmen have mixed views over need to arrest currency slide

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