Dec
20
Ringgit Dips to Weakest Level Since 1998 Asia Financial Crisis
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Current situation ‘is a turbulence, not a crisis’: Minister
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Ringgit set to weaken further to 4.52, according to analysts
Malaysia’s ringgit touched its lowest level since the Asian financial crisis in 1998, as investors continue to sell down emerging-market assets and after a crackdown on currency speculators last month exacerbated outflows.
The ringgit declined as much as 0.1 percent to 4.4805 per dollar, a level unseen since January 1998, according to prices from local banks compiled by Bloomberg, before trading at 4.4802 at 1:47 p.m. in Kuala Lumpur. The current situation “is a turbulence, not a crisis,” and the Malaysian currency will eventually recover back to its fair value, Second Finance Minister Johari Abdul Ghani told reporters…
Ringgit Dips to Weakest Level Since 1998 Asia Financial Crisis
