In the first quarter of 2015, the ringgit's value continued to weaken. On 11 March 2015, the ringgit traded at 3.7105 to the dollar while on 8 June 2015, the ringgit dropped to 3.7743, the lowest since January 2006. On 12 August, the ringgit fell to RM4.0025 against the dollar, the lowest in 17 years.
There are several factors that caused the drop in the ringgit's value. Firstly, 1MDB. Its become a question to Malaysian people. Moreover, Prime Minister Najib Razak was reported by media that his personal account were involved in the 1MDB money and have caused further weakening of confidence in the currency. Next, the lower value of oil. Oil prices have fallen because supply has been exceeding demand.
This problems effect all the economy of Malaysia. The industry have to pay more than as usual. The highest cost burdened them especially in the trading of buying & selling and also in the export & import. Furthermore, the people need to save in expenses. This is because, the price of houses and cars increase steadily as the year also increase.
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