# Malaysia will "never" again peg ringgit against dollar - PM Najib | Reuters

> Malaysian Prime Minister Najib Razak said on January 23 that Malaysia will never again peg the ringgit to the US dollar. He said the government will focus on lowering the budget deficit and let the currency reflect the economy's strength over the longer term.

- Date: 2018-01-23 · published 2018-01-23T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/67248-malaysia-will-never-again-peg-ringgit-against-dollar-pm-najib-reuters
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Removing the peg risk reduces the chance of a sudden ringgit devaluation, which supports a firmer ringgit against the dollar. A stronger ringgit makes Malaysian palm oil and other exports more expensive in dollar terms, which can weigh on export demand.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/article/malaysia-economy/malaysia-will-never-again-peg-ringgit-against-dollar-pm-najib-idUSL4N1PI1FQ/

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