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As the death toll rises in Gaza, Malaysians are paying more attention to the war – and this is not just among the political elite.
Ordinary Malaysians, perhaps frustrated at how their government, along with other countries, is unable to do more to stop the conflict, have taken things into their own hands with a concerted attempt at boycotting companies with alleged ties to Israel.
Some Starbucks and McDonald’s outlets around Kuala Lumpur, for instance, have seen a drop in footfalls. Prime Minister Anwar Ibrahim has insisted that Malaysia will not recognise unilateral sanctions that would take effect should a United States law to curb financing of Hamas come into force.
Meanwhile, the ringgit dropped to an all-time low against the Singapore dollar last week. And when compared to the greenback, it hit the lowest since the Asian Financial Crisis in 1998, prompting former premier Mahathir Mohamad to advocate for a return to the currency peg he instituted during the crisis.
For its part, the central bank has held its interest rate since May, despite a growing differential with the US weighing down Malaysia’s currency.
Follow ST’s coverage as we continue to bring you the latest developments and thank you for reading The Straits Times.
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