Malaysians Seek Currency Havens as Cris…

Consumers in Malaysia are turning to money changers to trade the domestic currency for US and Singapore dollars, triggering a foreign currency shortage as a steeply falling ringgit cuts into their buying power. Currency traders say the run on the ringgit is causing a shortage of US dollars as people try to move their money into safer currencies. At least two local banks are said to be limiting withdrawals to RM5,000 in cash at counters due to a shortage of cash. Any amount above RM5,000 must be withdrawn by bank check.

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