Malaysia scraps its ringgit currency’s 7-year-old peg to the U.S. dollar and will move to a managed float, pegged to a trade-weighted index of Malaysia’s major trading partners. “We will be pegged to a currency basket,” Bank Negara Governor Zeti Aziz says in published reports. “It will have a positive effect on the economy. We will allow the currency to reflect our fundamentals. It will remain not too far from the current value because it already reflects our fundamentals.” Zeti spoke to ...
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