Positive Economic Data Strengthen Ringgit – Anwar
KUALA LUMPUR, Jan 27 (Bernama) -- Positive economic data have reinforced the position and strength of the ringgit, Prime Minister Datuk Seri Anwar Ibrahim said.
He noted that the currency’s appreciation also reflects confidence in Malaysia’s economic system, in line with the nation’s improving economic indicators.
“The strengthening of the ringgit should not be viewed in isolation; it must also be considered alongside rising investment, incomes, and lower unemployment.
“Overall economic data point to a positive trend, which in turn bolsters the ringgit’s position and resilience,” he told the Dewan Rakyat during Question Time today.
Anwar, who also serves as Finance Minister, was responding to a supplementary question from Datuk Dr Ku Abd Rahman Ku Ismail (PN-Kubang Pasu) on the factors behind the ringgit’s gains against the US dollar and its impact on the country’s exports and imports.
He said the ringgit’s strength has not hindered trade flows. The government will continue to strengthen the economy, manage key economic policies, curb the deficit, and attract investment.
“Normally, a stronger ringgit brings positive effects, although there are minor concerns because it relates to the export and import of goods.
“But overall, no country wants its currency to weaken or fall below its intrinsic value,” he added.
At 8 am Tuesday, the ringgit was traded at 3.9650/9750 against the US dollar, compared with 3.9615/9670 at Monday’s close. The ringgit was last seen at this level in May 2018.
-- BERNAMA