Govt rules out pegging ringgit to dollar
Deputy Finance Minister Ahmad Maslan says any move to peg the ringgit to the US dollar will make Malaysia lose its ability to manage its monetary policies, thus potentially leading to a further increase in the overnight policy rate. – The Malaysian Insight file pic, June 20, 2023.
THE government will not peg the ringgit to the US dollar as it did during the Asian financial crisis in 1998, Deputy Finance Minister Ahmad Maslan told the Dewan Negara today. He said any move to peg the local note will make Malaysia lose its ability to manage its monetary policies, thus potentially leading to a further increase in the overnight policy rate .
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