Malaysia to maintain currency peg

Malaysia will maintain its seven-year-old currency peg to the US dollar and has no plans to impose measures to curb the flow of speculative funds into the economy, Deputy Prime Minister Najib Razak said on Thursday 19 May.

Najib said there was no necessity to review the ringgit peg of 3.80 to the dollar despite Hong Kong's move to loosen its 22-year peg to the US dollar.

"Our position is clear. It (the peg) remains as it is until the situation warrants a change," he told a news conference.