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One of the most significant events in the history of the Malaysian economy was the Asian financial crisis, which caused Malaysia's GDP to shrink from US$100.8 billion in 1996 to US$72.2 billion in 1998.
Knowledge of Malaysia’s economic history is essential for understanding the country’s present day social, demographic and economic achievements and challenges. The twentieth century was an amazingly eventful and transformative period.
ZUBAIR HASAN∗. This paper argues that the 1997-98 financial crisis did not hit Malaysia because the economic fundamentals of the country were weak. It was the result of massive unpredictable flight of short-term portfolio investment from the region including Malaysia.
The Malaysian ringgit exchange rate fell from RM 2.42 to 4.88 to the U.S. dollar by January 1998. There was a heavy outflow of foreign capital. To counter the crisis the International Monetary Fund (IMF) recommended austerity changes to fiscal and monetary policies.
19 lut 2023 · This chart shows USD/MYR exchange rate history data for 2021. The USD/MYR rate is up +3.11% in 2021. This means the US Dollar increased in value compared to the Malaysian Ringgit.
21 sty 1998 · Malaysia: attacks speculators. Kuala Lumpur city centre. The Malaysian ringgit started to devalue after the Thai baht came under attack from currency speculators in July 1997. At the end of the...
1 sty 2002 · Abstract. This article argues that the financial crisis Malaysia faced in 1997-1998 was not home grown. It was the result of heightened currency speculation in the region, Malaysia was...
