The Malaysian ringgit could slide further as the country grapples with a recent political upheaval and the coronavirus outbreak, says Gerald Ambrose of Aberdeen Standard Investments Malaysia.
Aberdeen Standard Investments Malaysia's Gerald Ambrose says the Malaysian ringgit is likely to weaken further.
Durian fruit sits on display at a stall on Petaling Street in the Chinatown district of Kuala Lumpur, Malaysia, on Monday, Jan. 6, 2020.The Malaysian ringgit could weaken further as the country grapples with a host of issues ranging from this week's political upheaval to the coronavirus outbreak that's spreading beyond China.
Commenting on the outlook for the Malaysian ringgit, Ambrose said: "I don't know how much weaker it can go. I don't know how much a weaker currency will actually help the economy."on Monday. His decision threw the country into turmoil, and broke apart a coalition of parties that ruled the country for less than two years after its surprise win at the 2018 general elections.
Malaysia's central bank, Bank Negara Malaysia , said Monday it was "closely monitoring conditions in the financial markets."
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