Ahmad Maslan says govt rules out pegging the ringgit

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Ahmad Maslan says govt rules out pegging the ringgit
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KUALA LUMPUR, June 20 — The government maintains its position not to peg the ringgit in dealing with its weakness compared to the US dollar due to its adverse effects on the...

KUALA LUMPUR, June 20 — The government maintains its position not to peg the ringgit in dealing with its weakness compared to the US dollar due to its adverse effects on the rakyat, said Deputy Finance Minister 1 Datuk Seri Ahmad Maslan.

He was replying to an additional question from Senator Datuk Shamsuddin Abd Ghaffar who wanted to know if the government would peg the ringgit. Earlier, Shamsuddin had asked about the cause of the fall of the ringgit and the efforts to deal with it. He said that in an uncertain global financial market, the flexible ringgit exchange rate plays an important role as an external shock absorber while reducing the impact on domestic economic activities.

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