30 Sep '13, 7am

Blog: WORST ECONOMIC MESS: In 1997, Anwar stood up to Dr M, in 2013 who will STOP Najib?: Malaysia-Chronic... #fb

Blog: WORST ECONOMIC MESS: In 1997, Anwar stood up to Dr M, in 2013 who will STOP Najib?: Malaysia-Chronic... #fb

Traditionally there are two tools available for authorities to fend off currency speculators. One is to use Monetary Policy tool to raise the domestic interest rates and the other is the Exchange Rate Policy of Open Market Operations to defend the exchange rate by selling its foreign reserves (in US$) to artificially prop up the local currencies. However such policy will always fail due to the size of the foreign exchange market that is just too big for any government to manipulate. The foreign exchange market currently trades more than US$ 5 trillion a day. Hence intervening in the foreign exchange market will only buy more time for the authorities and not solving the problem.

Full article: http://anwaribrahimblog.com/2013/09/30/worst-economic-mes...

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