Domestic economy better equipped to face global financial volatility unlike in 1997 financial crisis, he says.
Malaysia would lose its monetary policy freedom if it pegs the ringgit to the US dollar, said deputy finance minister Steven Sim.
Sim said this in response to a query from Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal in the Dewan Rakyat. The ringgit weakened to 4.7958 against the greenback last week, the lowest in more than 25 years. It had since climbed slightly to close at 4.7710 today.
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