SEPANG: The ringgit is expected to continue strengthening, supported by the government’s ongoing efforts to enhance economic activity and attract investments into the country.
Finance Minister II, Datuk Seri Amir Hamzah Azizan said the increasing demand for the ringgit would help to further stabilise the local currency.
“We’ve learned that through collaborations between the government, government-linked companies (GLCs), government-linked investment companies (GLICs), and Bank Negara Malaysia, we can stabilise the ringgit under any circumstances, InshaaAllah,” he said.
The minister said this to reporters after the officiating ceremony of 40 new units of baggage scanners for the Royal Malaysian Customs Department (JKDM) at the Kuala Lumpur International Airport (KLIA) Terminal 1 today.
Amir Hamzah added that the ringgit’s performance has improved recently due to positive economic developments, increasing foreign investment inflows, and movements in the United States’ interest rates.
“Alhamdulillah, the ringgit is still gaining strength and is gradually finding its true equilibrium,“ he said, noting that the local currency had also strengthened against other major currencies in the region.
Today, the ringgit closed at 4.12 versus the US dollar, emerging as one of the top-performing currencies globally.
