22 July, 2005

-image-malaysia, china leave the dollar peg

Surprise! Today, effective immediately, Malaysia and China have abandoned their currency pegs against the US dollar. Both countries ban offshore trading of the ringgit and yuan respectively, so there wouldn’t be an astronomical appreciation of either currency.

Plus, both countries aren’t allowing a free float, rather they are allowing currencies to move within limited trading bands structured around trade-weighted currency baskets. Malaysia’s central bank Bank Negara has been purchasing dollars en masse to head off an surge for the ringgit.  More here. Updated for clarity

by Rajan R @ 3:55 pm. Filed under Economy

3 Responses to “malaysia, china leave the dollar peg”

  1. Brian Mathes Says:
    July 24th, 2005 at 10:34 am

    I’m surprised China’s announcement had so much influence over Malaysia’s own decision. Does anyone know whether China informed Malaysia prior to its own annoucement?

  2. Mobb Says:
    August 1st, 2005 at 1:55 pm

    It’s ok malaysia and china have abandoned their currency pegs against the US dollar. But they cannot beat us dollor. Quite intresting article posting.I enjoyed reading this.

  3. Jack Says:
    August 1st, 2005 at 1:58 pm

    This is a good symbolfor both china and malaysia relationship.

Leave a Reply


You must be logged in to post a comment.

« yuan revaluation!
showdown in freedom park »

[powered by WordPress.]

Free Hao Wu
Keep on Blogging!

Support Bloggers' Rights!
Support Bloggers' Rights!




Search Blog

 
Web AsiaPundit

Archives

July 2005
M T W T F S S
« Jun   Aug »
 123
45678910
11121314151617
18192021222324
25262728293031

Categories

China

Japan

  • Austin Arensberg
    0
  • Black China hand
    0
  • China Confidential
    0
  • China Digital Times (CDT)
    0
  • China e-Lobby
    0
  • China Matters
    0
  • The China Stock Blog
    0
  • Chinese Law Prof Blog
    0
  • Harvard Extended
    0
  • The Horse’s Mouth
    0
  • Isaac Mao
    0
  • serialdeviant.org(y)
    0
  • Shanghai Diaries
    0
  • Howard W French
    0
  • Metanoiac!
    0
  • Danwei
    0
  • supernaut …
    0
  • Bingfeng Teahouse
    0
  • Andrés Gentry
    0
  • sinosplice
    0
  • China Herald
    0
  • Wanbro
    0
  • Running Dog
    0
  • The Unabrewer
    0
  • Shenzhen Ren
    0
  • billsdue
    0
  • the Big Yuan
    0
  • Imagethief
    0
  • middle kingdom stories
    0
  • The LongBow Papers
    0
  • Mandate of Heaven
    0
  • Micah Sittig
    0
  • Survived SARS
    0
  • Under The Tenement Palm
    0
  • Talk Talk China
    0
  • The Paper Tiger
    0
  • T-salon
    0
  • Shanghaiist
    0
  • Wangjianshuo’s Blog
    0
  • Laowiseass
    0
  • Fear of a White Planet
    0

    • Hong Kong

    The Koreas

  • SuaraMalaysia.com
    0
  • Rajan
    0
  • American Expat in SE Asia
    0
  • Pok Ku
    0
  • TV Smith
    0
  • MacVaysia
    0
  • mental jog
    0
  • Screenshots…
    0
  • Nik Nazmi
    0
  • Britishasian
    0

    • Taiwan

  • NiHowdy
    0
  • a better tomorrow
    0
  • betelnutblogger
    0
  • IslaFormosa
    0
  • One whole jujuflop situation
    0
  • Naruwan Formosa
    0
  • Scott Sommers
    0
  • Formosa online
    0
  • Wandering to Tamshui
    0
  • Freedom Slopes
    0
  • Formosa online
    0
  • taiwan tiger 台灣的老虎
    0

    • India & South Asia

    Global & Regional

  • Mutant Frog
    0
  • Sushicam
    0
  • MasaManiA=道徳遊戯
    0
  • Nichi Nichi
    0
  • Tokyo Times
    0
  • Japan Window Photo Blog - Culture, Life, People & Pictures
    0
  • LDK
    0
  • The Tanuki Ramble
    0
  • Frog in a Well
    0
  • Japundit
    0
  • Miyakonojo
    0
  • Joi Ito’s Web
    0
  • The Old Revolution
    0
  • Renegades!
    0
  • Riding Sun
    0
  • Shamrocks!
    0
  • The White Peril 白禍
    0
  • Yagami-Sama
    0

    • Meta Data

    Locations of visitors to this page Listed on BlogShares Ecosystem Details

    Other

    sponsors



    AsiaPundit Friends

    Adopt


    Recommended


    Mr. China - by Tim Clissold:
    How to lose $400 million in the world's biggest market.


    Imelda - Power, Myth, Illusion:
    A documentary on the former Philippine first lady that is damning, sympathetic and incredibly funny.


    Yat Kha - Re Covers:
    Siberian throat-singing punk band searches for its roots


    5.6.7.8.'s - Bomb the Twist:
    Three Japanese women play 1950's-inspired punk.


    Gigantor Box Set Volume 1:
    The original giant Japanese robot


    Mao: The Unknown Story - by Jung Chang and Jon Halliday:
    A controversial and damning biography of the Helmsman.

    Recent Posts

  • Re-launch pending
  • China Toymaker Gives Children the Evil Eye
  • links for 2007-06-06
  • links for 2007-05-30
  • links for 2007-05-25
  • links for 2007-05-23
  • links for 2007-05-21
  • links for 2007-05-16
  • links for 2007-04-29
  • links for 2007-04-27

    • recent comments

    • tutubi: this is dardn true the 5 peso coins also smuggled out of the country to be melted :(
    • tutubi: you seem to pick up almost any news from here, eh? elections here are generally like that. Candidates (or...
    • Josh: mahathir_fan your an idiot.
    • Inst: don't get arrogant. once this comes to the attention of the authorities who says Opera Mini isn't going to get...
    • Chinese Girl: I think that you all are creeps who are nothing but plain jealous of China. If you think that China is...

    Sponsors

    singapore

    Malaysia

    Indonesia

  • Expat@Large
    0
  • My Very Own Glob {Curiosa Felicitas}
    0
  • Mr Brown
    0
  • Sarong Party Girl
    0
  • Wannabe Lawyer
    0
  • Idle Days - going back to mediocrity
    0
  • Singabloodypore
    0
  • Balderdash!
    0
  • dsng.net: the daryl sng blog
    0
  • No Trespassing Beyond This Point
    0
  • life in mono
    0
  • Singapore Ink
    0
  • Singapore Commentator
    0
  • disintergration; severe
    0
  • A Gonzo Journal
    0
  • caustic.soda
    0
  • Singapore Serf
    0
  • SarongPartyFrens
    0
  • XiaXue
    0
  • buttermilk. because sour is the new sweet.
    0
  • betterdays
    0
  • My Very Own Glob (new)
    0

    • Phillippines

    Vietnam

  • Daai Tou Laam Diary
    0
  • HKMacs
    0
  • Hong Kong Digital Vision
    0
  • Milton J. Madison
    0
  • Hemlock
    0
  • Glutter
    0
  • Flying Chair
    0
  • the shaky kaiser
    0
  • OrdinaryGweilo.com
    0
  • Simon World
    0
  • Discombobulated Mia
    0
  • Walk The Talk
    0
  • Hong Kong Capitalist
    0

    • More from China

    42 queries. 0.700 seconds