Zafrul: No plans for ringgit peg, we are not in a crisis


Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

KUALA LUMPUR: Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz reiterates that there will be no peg of the ringgit to the US dollar amid the continued weakening of the local currency.

"The ringgit is influenced by the movements of currencies across the world - including the main export partners of Malaysia. We are not in a currency or financial crisis like back in 1997 which is being claimed by certain parties," Zafrul told a press conference at the 'Developing and Financing Green Housing in Asia' by Cagamas.

Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

ringgit , financial crisis , US dollar ,

   

Next In Business News

Malaysia's economy grows 5.3% in 3Q
Sunway Property generates RM42mil in sales at Sunway Bayu pre-launch event
China's Oct data shows soft economic underbelly, backs calls for more stimulus
Indonesia Oct exports up 10.3% y/y, beating forecast
Anwar calls for stronger partnerships to ensure no one is left behind in fast-paced digital age
China new home prices fall 0.5% m/m in October
Metro Healthcare edges higher on ACE Market debut
Bursa Malaysia set to hold firm ahead of GDP data
Malaysia removed from US currency monitoring list
Tengku Zafrul: Longer term pain from US-China rift

Others Also Read