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

Malaysia petrol price for August 2015 - down 10 sen

Retail petrol prices of RON95, RON97 and diesel saw a dip of 10 sen a litre from midnight.

The new prices will see RON95 retailed at RM2.05, RON97 at RM2.45 and diesel at RM1.95 per litre.

Malaysians no longer enjoy fuel subsidy. Fuel prices are now determined monthly based on market price. However, prices here are still lower than the prices at both our immediate neighbouring countries.

Here in Malaysia, the price of petrol is the same across the country meaning to say wherever you fill your tank in any part of the country, the petrol price is the same.

Two types of petrol are sold in Malaysia, RON95 and RON97. The latter being the premium grade is the petrol available to foreign vehicles in the country.

Source: The Star