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The Malaysian ringgit is headed for its biggest weekly drop in 10 months due to lower crude oil prices and the controversial reports involving 1MDB.
After months of being in a currency quagmire, due to the 1MDB scandal and also the sliding price of crude oil affecting Asia’s only net oil exporter, the Ringgit has now become the region’s “best performing currency” overnight.
Foreign workers are asking for an increase in wages to make up for the lower value of the Ringgit.
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Malaysians will need to be prepared for more costly medicines in the near future due to the weak Ringgit.