M'SIA MONITORING RINGGIT'S MOVEMENT, ASIAN CURERENCIES FALL

PUTRAJAYA, Sept 5 (Bernama) -- The Malaysian government is closely
monitoring the movement of the ringgit following the marked depreciation in Asian currencies amid a firmer dollar and concerns over a global economic downturn.

"We are observing very closely what is happening," Prime Minister Abdullah Ahmad Badawi said when responding to reports of Asian currencies having opened significantly lower in regional markets Friday.

News reports said that the Indonesian Rupiah, South Korean Won, Malaysian Ringgit and the Philippines Peso had come under pressure as the dollar strengthened while concerns lingered over inflationary presssures.

The reports had also said that there could have been official intervention to support their currencies.

Asked whether this was the time for the government to intervene with most
Asian currencies having fallen significantly, Abdullah, who is also Finance
Minister, said: "Not yet."

The ringgit opened 0.8 percent lower at 3.45 against the dollar from 3.42
at
yesterday's closing.

News reports said that the ringgit hit a year low of 3.46 per dollar in
early trading Friday.

Earlier, Abdullah launched a Business Licensing Electronic Support System
or
BLESS.

-- BERNAMA