Low ringgit could be just what Malaysia’s economy needs
A currency trader holds up Malaysian ringgit notes at a currency exchange store in Kuala Lumpur. Pic: AP.
By Murray Hunter Jul 16, 2015
The Malaysian ringgit has taken a battering over the last few months, especially relative to some of the high performing currencies in the region, like the Thai baht. The Malaysian ringgit is now at a nine-year low against the US dollar, just recently ducking under the psychological RM3.80 mark.
This new ringgit low has come at a time when a number of potential scandals such as the 1Malaysia Development Berhad (1MDB) furore, where the Sarawak Report and Wall Street Journal (WSJ) has alleged that Prime Minister Najib Tun Abdul Razak received $700 million into his personal bank accounts, are threatening Government.
