Malaysia Scraps Peg in Favor of Float

[BBbucks]

http://www.bloomberg.com/apps/news?pid=10000080&sid=aj5L_Ti88plI

Interesting read…

[Chaka]

http://www.bloomberg.com/apps/news?pid=10000080&sid=aj5L_Ti88plI

Interesting read…
``I feel the time has come for us to review because we have lost a lot as the value of our currency has fallen,'' Mahathir, who retired in 2003 after leading Malaysia for 22 years, said on Jan. 19. Malaysia can fix the peg ``at any level we want.''

FYI =Mathir was the Prime Minister

Malaysia's response ``takes the pressure off from speculative trading in the currency,'' said Song Seng Wun, regional economist at G.K. Goh Holdings Ltd. in Singapore. ``Investors will be pleased because they have put in plenty of money in anticipation of this outcome.''