Zeti argues ringgit is ‘undervalued’ but rules out dollar peg

Zeti Akhtar Aziz at Bank Negara Malaysia
Bank Negara Malaysia governor, Zeti Akhtar Aziz

The ringgit, which has fallen by 14.7% against the dollar since September, is "significantly undervalued", according to Bank Negara Malaysia governor, Zeti Akhtar Aziz, who nonetheless ruled out introducing capital controls.

"At this stage we will just say that it is significantly undervalued. Some of our exporters might not be pleased that I am saying this because they are benefiting from the depreciated currency," stressed Zeti at the release of the central bank's 2014 annual report.

The gover

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