Malaysia expects ringgit to rise this year, rules out currency peg

KUALA LUMPUR: Malaysia's finance ministry on Thursday dismissed adjusting monetary policy or pegging the ringgit to support the weakened currency, saying it expects the ringgit's value to appreciate this year.

The ringgit has fallen about 3.7% this year so far and briefly hit a 26-year low last week. Malaysia's central bank has said the currency is undervalued and does not reflect the country's strong fundamentals.