Wednesday, March 9, 2016

Ringgit set to rise with higher oil prices, says Chua

The price of crude oil, which is forecast to be at between US$40 and US$50 (RM206) this year, will strengthen the value of the ringgit, says Deputy Finance Minister Datuk Chua Tee Yong. "With the oil prices trending upwards, the country's conservative policy of keeping them at between US$30 and US$35 a barrel must be maintained," he said today. Chua said the further weakening of China's economic growth now would affect demand for Malaysian goods. "We are now closely monitoring China's economic growth as it is the country's major trading partner." – Bernama, March 9, 2016.]]>

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