KUALA LUMPUR, Oct 19 ― The Malaysian ringgit has reportedly tumbled by 0.3 per cent to 4.735 per dollar, recorded as the weakest since 1998.AdvertisementAdvertisement Bloomberg...
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The agency further added that the currency’s declining digit was influenced by the rise in the dollar and increasing rate variation with the United States. Moreover, it said the decision by Bank Negara Malaysia to halt the interest rates since July has further injured the value of the currency as hawkish comments are made by central banks around the world.
Reiterating further on the condition, Varathan said that the policymakers were torn in choosing between the economic headwinds from higher rates or the risk of not responding and putting the macro and ringgit’s stability at risk.
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