Ringgit within a whisker of 1998 record low

Free Malaysia Today

Attempts to unseat Anwar Ibrahim as prime minister seen as one of the reasons for grim outlook for the currency.   Read More:  https://www.freemalaysiatoday.com/category/highlight/2024/02/19/ringgit-within-a-whisker-of-1998-record-low/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: http://bit.ly/2Rn6xEV Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on Twitter: http://bit.ly/2OCwH8a  Follow FMT on Instagram: https://bit.ly/2OKJbc6 Follow FMT on TikTok : https://bit.ly/3cpbWKK Follow FMT Telegram - https://bit.ly/2VUfOrv Follow FMT LinkedIn - https://bit.ly/3B1e8lN Follow FMT Lifestyle on Instagram: https://bit.ly/39dBDbe ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #RinggitMalaysia #Dropped #AsianFinancialCrisis1998 #USDollar

Transcript

00:00 The Ringgit is dangerously close to hitting a record low, Bloomberg reported.

00:08 The Ringgit is around 2% away from reaching 4.8850 to the US dollar, a level last seen

00:14 in the Asian financial crisis in 1998.

00:17 Hoon Goh, head of Asia Research at Australia and New Zealand Banking Group, told Bloomberg

00:22 that there is a risk the currency will reach a new all-time low.

00:26 He claimed exports in Malaysia are not recovering as well as in other Asian countries.

00:31 Malaysia's exports have reportedly declined for a tenth consecutive month in December,

00:35 with China's floundering economy partly to blame.

00:39 The Ringgit dropped to 4.7958 to the US dollar last October, recorded as the weakest since

00:45 1998.

00:46 However, most analysts are expecting the Ringgit to grow stronger by the end of the year as

00:51 Malaysia's economy picks up.

00:53 OCBC Bank forecasts the Ringgit recovering to 4.60 to the US dollar, while ANZ Bank predicts

00:59 it will rise to as much as 4.45 to the Green Bank.

01:03 Danish Rajareza, FMT News.

01:05 (upbeat music)

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