{"id":18116,"date":"2015-08-14T15:46:31","date_gmt":"2015-08-14T07:46:31","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=18116"},"modified":"2015-12-28T10:43:39","modified_gmt":"2015-12-28T02:43:39","slug":"no-plans-to-peg-the-ringgit","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/no-plans-to-peg-the-ringgit","title":{"rendered":"No Plans To Peg The Ringgit"},"content":{"rendered":"<p>Bank Negara Malaysia (BNM) has no plans to peg the<a href=\"https:\/\/www.imoney.my\/articles\/how-does-the-tumbling-ringgit-directly-affect-you\" target=\"_blank\"> tumbling Ringgit<\/a> despite continued volatility in the currency markets, said its governor Tan Sri Dr Zeti Akhtar Aziz said on Thursday.<\/p>\n<p>\u201cI want to categorically emphasise that we do not expect to peg the currency. The fact that we have a flexible exchange rate regime helps our country to adapt because if the exchange rate doesn\u2019t adjust, then prices and demand has to adjust. I want to add that we are not implementing capital controls as well,\u201d Zeti clarified at the recent press conference.<\/p>\n<p>At this point in writing, the Ringgit has fallen to 4.1 against the US dollar.<\/p>\n<p>Zeti, however, said that the depreciation was expected during periods of capital outflows and expects the volatility to remain until there is a certainty in policy directions from major economies.<\/p>\n<p>\u201cI believe once the external environment improves and once we solve all our domestic issues, then the currency will better reflect its fundamentals,\u201d she said.<\/p>\n<p>She said that Bank Negara will continue to ensure the orderly functioning of the market to avoid disruptions to trade and business activities.<\/p>\n<p>We can&#8217;t do much about the weakening Ringgit, but we can make the most of our hard-earned cash with these super cool <a href=\"https:\/\/www.imoney.my\/credit-card\/cashback-credit-cards\/\" target=\"_blank\">cashback credit cards<\/a> that help us save as we spend.<\/p>\n<p>[<a href=\"http:\/\/www.thestar.com.my\/Business\/Business-News\/2015\/08\/13\/Zeti-sees-volatile-currency-markets-to-remain\/?style=biz\" target=\"_blank\" rel=\"nofollow\"><em>Source<\/em><\/a><em><a href=\"http:\/\/www.thestar.com.my\/Business\/Business-News\/2015\/08\/13\/Zeti-sees-volatile-currency-markets-to-remain\/?style=biz\" target=\"_blank\"> 1<\/a>] <\/em><\/p>\n<p><em>[<a href=\"http:\/\/www.thestar.com.my\/Business\/Business-News\/2015\/08\/14\/No-peg-no-controls\/?style=biz\" target=\"_blank\" rel=\"nofollow\">Source 2<\/a>]<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank Negara Malaysia has no plans to peg the Ringgit despite continued volatility in the currency markets.<\/p>\n","protected":false},"author":29,"featured_media":18117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[271,216,284],"tags":[],"class_list":["post-18116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news-updates","category-ringgit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>No Plans To Peg The Ringgit | iMoney<\/title>\n<meta name=\"description\" content=\"Bank Negara Malaysia has no plans to peg the Ringgit despite continued volatility in the currency markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/no-plans-to-peg-the-ringgit\" \/>\n<meta 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