Malaysia says wants stable currency (Reuters)

Newshound · Joined: 30 May 2005 Posts: 753

Reuters - Malaysia aims to keep its currency
stable and has not set any trading level for its value, the
country's second finance minister said on Sunday, three days
after Malaysia moved to a managed float of the ringgit. "In
the long run, it's good for everybody. In the short run,
certainly there are more winners than losers," Nor Mohamed
Yakcop, one of the principal architects of the ringgit's old
peg to the U.S. dollar, told reporters.

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