Zeti argues ringgit is ‘undervalued’ but rules out dollar peg
Malaysia has ‘important fundamentals that would support stronger currency’ – Zeti
The ringgit, which has fallen by 14.7% against the dollar since September, is "significantly undervalued", according to Bank Negara Malaysia governor, Zeti Akhtar Aziz, who nonetheless ruled out introducing capital controls.
"At this stage we will just say that it is significantly undervalued. Some of our exporters might not be pleased that I am saying this because they are benefiting from the depreciated currency," stressed Zeti at the release of the central bank's 2014 annual report.
The
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