Producer Zainudin Afandi travelled to Malaysia to see how the falling currency has impacted ordinary Malaysians. Many that he met told of how they had to adjust their shopping habits, cutting down on imported products and food.
At the same time, the cheap ringgit has spurred some to seek greener pastures elsewhere, particularly in Singapore.
With the Singapore Dollar hovering around 3.5 to 1 Malaysian Ringgit, working in their neighbouring country could see Malaysians receiving a big pay bump just because of the favourable exchange rate.
But the question Insight wanted to answer was this: What is behind the falling ringgit? And is it on the road to recovery, or does it point to weaknesses in the Malaysian economy?
As explored in another programme, CNA Correspondent, high youth unemployment in Asia – like Malaysia where it has led to a brain drain – could be a sign of economic stagnation.
Catch Insight to understand why the ringgit has been falling, and how long more Malaysians will have to bear with the associated fall in their purchasing power. (ICYMI, also check out this earlier episode about Malaysia’s retirement crisis, and why very few can afford to retire)
Daniel Heng
Executive Producer, Insight
