Higher Crude Oil Prices Set To Strengthen Value Of Ringgit -- Deputy Finance Minister

PETALING JAYA (Selangor, Malaysia), March 10 (Bernama) -- The prices of crude oil, which are forecast to be at between US$40 and US$50 (US$1 = RM4.12) this year, will help strengthen the value of the ringgit, said Deputy Finance Minister, Chua Tee Yong. "With the oil prices trending upwards, the country's conservative policy of keeping them at between US$30 and US$35 a ton must be maintained," he told reporters after the launch of Crowdo's equity crowdfunding (ECF) platform in Malaysia, 'The Parenthood' here Wednesday. Chua said the further weakening of China's economic growth now would affect demand for the country's products. "We are now closely monitoring China's economic growth as it is the country's major trading partner," he said. -- BERNAMA