THE ringgit is undervalued by some 10% against the US dollar and other major currencies, but any attempt to de-peg the local currency from the greenback may affect the competitiveness of Malaysian exporters, said Malaysian Institute of Economic Research (Mier) executive director Dr Mohamed Ariff.
Ariff told reporters on the sidelines of the Mier national economic briefing in Kuala Lumpur yesterday that the current peg of RM3.80 to one US dollar, in place since September 1998, would likely remain “for some time.”