'Ringgit depreciation not due to Malaysia not having full-time Finance Minister' - Anwar

PUTRAJAYA - The drop in ringgit value situation is caused by the United States' (US) policy, not because Malaysia does not have a full-time Finance Minister.

Prime Minister Datuk Seri Anwar Ibrahim said international constraints also affected the position of the ringgit.

"Tell those who suggested so to read the economic and financial reports instead of the reports made by Pas," he said when met after the Malaysian Civil Servant Housing (PPAM) Madani Dalur Precinct 18 key handover ceremony here, today.

Anwar who is also the Finance Minister was commenting on Pas Central assistant secretary-general Mohd Syahir Che Sulaiman's statement saying that Malaysia needed a competent full-time Finance Minister who can focus on the country.

The Bachok MP said within six months, the ringgit had dropped compared to the US dollar and other currencies reaching RM4.60/USD and was expected to reach RM5/USD if it was not controlled.

Deputy Finance Minister I Datuk Seri Ahmad Maslan said the government hoped that the pressure on the ringgit will subside after the US debt ceiling issue was resolved.

The international media reported that US was struggling to resolve the debt ceiling issue as soon as possible.

US President Joe Biden said his administration was working towards solving the issue before Tuesday.