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Malaysian ringgit falls to new record lows against US dollar

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/09/2015 (11:04)
According to media sources, the Malaysian ringgit depreciated 0.5% to 4.3490 against the US dollar, reaching the lowest level seen in more than 17 years.

The possibility that the US Federal Reserve may implement a rate increase at its next meeting is putting downward pressure on emerging economies, including Malaysia. Meanwhile, lower crude oil prices are also weighing down Malaysia’s economy as the country is the only major net oil exporter in the region.

According to Bloomberg economists, the country’s central bank, Bank Negara Malaysia, is likely to keep its benchmark interest rate at 3.25% on September 11.
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