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Malaysia's central bank said it will not impose capital controls or peg the ringgit to the US dollar, as the currency trades near a 24-year low. The ringgit has fallen nearly 9% this year alongside other emerging-market currencies as the dollar strengthened.
It traded at 4.568 per dollar, after touching 4.569 on Thursday, its weakest since January 1998.
A weaker ringgit raises the cost of imported goods and feed inputs priced in dollars for Malaysian buyers, while a firm dollar keeps pressure on emerging-market currencies generally. The policy choice to let the currency float means no official intervention is expected to cap the decline.
reuters.comSep 23, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
