KUALA LUMPUR - The emergence of economists 'immediately' in social media linking the depreciation of the ringgit with the current political situation has sparked concerns among the people, according to an academic.
Member of the Cluster of Economics and Management, National Professional Council, Prof Razli Che Razak said the depreciation of the ringgit against the US dollar (US) was not due to political turmoil in the country.
Instead, he said, the depreciation of the ringgit in the world market due to falling crude oil prices and the role players in the currency exchange market.
"Right now, many people in the cyber world to economists 'instant' who spread fear over the ringgit without based on real facts," he said when contacted here today.
Uncertainty prevailing exchange rate against all countries that trade with the United States dollar as Australia and New Zealand, he said.
Registrar Universiti Malaysia Kelantan, said the worse now when economists 'soon' is not qualified to take the opportunity to associate it with confidence in the country's politics.
Meanwhile, a lecturer at the School of Business and Economics, Universiti Malaysia Sabah (UMS), Prof Dr Syed Azizi Wafa Wafa Syed Khalid said, to curb speculation that could affect the image of the government, parties such as the National Bank must provide information to the grassroots.
"Description based on facts should be given to calm public fears and stop speculating wildly issued," he said.
He also did not rule out the possibility traders will raise the price of goods even though it has nothing to do with imports.
In the meantime, Traders and Entrepreneurs Association of Malaysia (Perdasama), Datuk Moehamad Izat Emir said there was a rumor said prices of imported goods will rise mainly due to the currency situation now.
"I see traders sell their goods at regular price and some are sold cheap because the stock of existing spending," he said.
But he urged traders to do business with countries that use the currency low so that goods are not sold at high prices. At 5pm, the ringgit closed lower against the US dollar at RM4.04 from RM3.96 yesterday.
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