Malaysia's Prime Minister Najib Razak said Malaysia's economy is currently in good condition, this is done in order to allay the worries of the public and investors over the anjloknya currency exchange rate of that country and slowed economic growth.
"The resilience of the financial system in Malaysia remain intact," Najib said in a statement. Najib, also became Minister of Finance of Malaysia, explains the fall in the ringgit will not be pegged against the u.s. dollar in order to stop his descent, as it did in the late 1990s and then in the middle of the beginning of a sharp decline.
The ringgit being the worst performing currencies in Asia until a year later. The drop in the ringgit started due to concern over the decline in world oil prices will interfere with Malaysia's economic growth which is also exporting oil.
Market sentiment was also disrupted due to political uncertainty due to the problem of corruption was revealed the result of disclosure that there are millions of dollars flowing to the private account Najib since 2013. The devaluation of the Chinese conducted last week also adds to the pressure on the ringgit.
Ringgit on trading last Thursday are at level 4, 12 per u.s. dollar, the lowest level since 1998, in which Malaysia set a reference exchange rate of 3.8 per dollar during the onset of the economic crisis in the region. Reference that lasted seven years. Najib said there will be no reference in the exchange rate or the control of the capital for the time being, he explained the basic economics of Malaysia under the strong and significant difference in the situation than 1998.https://www.mql5.com/en/signals/120434
