This is the second time in a week that the monetary authority has expressed concerns over the local currency’s weakness following its slide to a 26-year low. Malaysian Prime Minister Anwar Ibrahim said last week the government has assigned the central bank to monitor the currency’s fluctuations.
Malaysia’s central bank said the ringgit is undervalued and should be stronger given the nation’s positive economic outlook.
“The ringgit ought to be traded higher,” Abdul Rasheed Ghaffour, Bank Negara Malaysia’s governor, said in a statement Tuesday.
