Addressing the currency decline

A currency analyst says that given the close trade and investment ties with China, Bank Negara is likely more concerned about the ringgit and yuan pair rather than the dollar and ringgit rate.

BANK Negara’s new governor Datuk Shaik Abdul Rasheed Abdul Ghaffour has a big issue to deal with.

The local unit, which is at a seven-month low against the US dollar, has also weakened against other major European units and the Singapore dollar since February as interest rate cycles kicked into high gear there.