Govt rules out pegging the ringgit - Ahmad Maslan

KUALA LUMPUR: The government maintains its position not to peg the ringgit in dealing with its weakness compared to the US dollar due to its adverse effects on the rakyat, said Deputy Finance Minister 1 Datuk Seri Ahmad Maslan.

He said pegging the ringgit would cause Malaysia to lose the ability to continue its monetary policy and would then force Bank Negara Malaysia (BNM) to raise the Overnight Policy Rate (OPR) to the same level as the United States' interest rate which is currently at the threshold of 5.00 - 5.25 per cent.