Ringgit's decline halts, expected to remain weak

Ringgit's decline halts, expected to remain weak
“The rebound reflects Bank Negara’s statement on the value of the ringgit,” Alliance Bank Malaysia Bhd chief economist Manokaran Mottain(inset). In an email to Bloomberg on Monday, governor Tan Sri Dr Zeti Akhtar Aziz asserted that the ringgit was now trading at levels that were not reflective of the fundamentals of the Malaysian economy. She also stressed that the weakness of the ringgit would be temporary and that fundamentals would prevail once global uncertainties affecting market sentiment subsided.

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