Ringgit slide more influenced by non-economic factors, says MIER

KUALA LUMPUR: The ringgit's decline is more influenced by non-economic factors and an over-reliance on oil and gas revenue, as well as political issues, said the Malaysian Institute of Economic Research (MIER).

"We expect the ringgit to find an equilibrium price of 3.50 to the US dollar in the third quarter of this year," he told reporters after a briefing on Malaysia's first quarter 2015 economic update here today.