Ringgit finds equilibrium amid positive economic growth - Finance Minister
Ringgit strengthens with increased investments.
SHAH ALAM – The performance of the Malaysian Ringgit (RM) has not only strengthened against the United States (US) Dollar but also against all other currencies in the region.
Finance Minister II, Datuk Seri Amir Hamzah Azizan said that the RM was finding its appropriate equilibrium value, which was expected to continue bolstering its strength in the future.
"RM has significantly strengthened and as predicted earlier this year, with positive economic developments, the outlook has improved.
“We can observe that with the shift in US interest rates and substantial investments coming into the country, RM will progress towards a better level.
“We are grateful to see a marked difference and RM has strengthened not just against the US Dollar but also against all currencies in the region,” he said.
Amir added that as more investors entered the country, the demand for the ringgit would increase, further strengthening the currency.
“What we learned this time was that with collective efforts from the government, government-linked investment companies (GLICs), and Bank Negara Malaysia, Insyallah, we could stabilise the RM under any circumstances.
“As long as Malaysia remained strong economically, our RM would continue to strengthen,” he said.
