‘Weak ringgit due to speculation’

Jomo said a multitude factors – including the role of certain “powerful” speculators and Malaysians who hoard their cash abroad – exerted pressure on the ringgit.

PETALING JAYA: A weak ringgit is “not the most important problem” for Malaysia currently, according to a prominent economist.

Professor Jomo Kwame Sundaram, a research adviser at Khazanah Research Institute, also said that the ringgit’s depreciation was not caused by the country’s economic fundamentals.