EconomicsToo

Originally posted by Year 12 Economist Jia Yi on her blog "Thoughts":  The Malaysian Ringgit: How to salvage a falling currency Before discussing on ways to salvage the plummeting Ringgit, I will provide a brief summary of the Ringgit's valuation in the last 8 months. In the summary, I will contextualise key valuations and dates to give readers a  deeper understanding on the concerns which the Malaysian government (and people!) are facing.  Summary: In 11th of March 2015, the Ringgit traded at RM 3.7105 to the dollar. It was reported that this was the weakest the Malaysian Ringgit has fallen since February 2010, foreshadowing a 'looming crisis', with the value of Ringgit close to  1997 levels (the Asian Economic Crisis). On 6 July 2015, it was reported that the ringgit had dropped to its  lowest level in 16 years , falling to 3.81 to the US dollar. When the ringgit was pegged to the dollar in the aftermath of the Asian Financial Crisis of 1997, it was ...