Malaysian Government Introduces Currency Controls
Source: Council for Economic Education (EconEdLink) | Type: Lesson
In September 1998, the Malaysian government instituted controls in order to protect its currency. How does this affect the prices of goods and services purchased by foreigners?Students gain a better understanding of the consequences of the steps taken by the Malaysian government. Money is bought and sold like any other commodity in the market. Its price, which is called the exchange rate, is based on the supply of and demand for money at a particular time. The tables show exchange rates for May and July of the same year.
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