Monday 27 May 2024

[Post 383] Why Malaysia’s Currency Has Been Falling: Can The Ringgit Recover? | Insight | Full Episode


In February this year, the Malaysian currency, the ringgit, suffered its steepest decline in 26 years. It briefly slipped past MYR 4.8 against the US dollar, its weakest since reaching an all-time low of 4.88 during the 1998 Asian Financial Crisis. 

This has caused a strain on the country’s key industries - from the airlines to manufacturing - due to higher fuel prices and cost of raw materials. It has shaken investor confidence and accelerated outward migration. 

Why has the ringgit lost so much of its value? Could the depreciating ringgit spell trouble for Prime Minister Anwar Ibrahim? As the government projects a recovery, is a turnaround in sight?

No comments:

Post a Comment