Ringgit versus pound loans

MALAYSIANS who bought properties abroad – in countries whose currency is strengthening against the ringgit – may have to fork out more to finance their purchases, if they have not “locked in their loans” or created a pound-denominated fund at earlier and more favourable rates.

The ringgit has been weakening against a basket of currencies – notably US dollar and Singapore dollar – since the fall in oil price in June 2014. The Swiss float, on Jan 16, added to the volatility and the ringgit has fallen further since.