Malaysia among countries that are susceptible to capital outflows

MALAYSIANS who need to exchange their ringgit for currencies of certain major developed economies – be it for holiday, education or business purposes – must have felt the pinch of late, as the ringgit has depreciated quite substantially against several major currencies in recent weeks.

Against the US dollar, for instance, the ringgit had depreciated by about 7.6% year-to-date to 3.31 per unit as of noon yesterday.