# Malaysia rules out capital controls, currency peg as ringgit trades near 24-year low

> 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.

- Date: 2022-09-23 · published 2022-09-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/39860-malaysia-rules-out-capital-controls-currency-peg-as-ringgit-trades-near-24-year
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/asia/malaysia-cbank-says-no-plans-capital-controls-ringgit-re-pegging-2022-09-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.