The ringgit strengthens to RM4.16 against the US dollar, reaching its highest level in 13 months and emerging as Asia’s top-performing currency.
KUALA LUMPUR: The ringgit has strengthened to RM4.16 against the US dollar, making it Asia’s best-performing currency according to Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who also serves as Finance Minister, highlighted this achievement during the Dewan Rakyat’s Question Time session.
He noted the currency’s performance came despite earlier criticism when the ringgit had weakened against the greenback.
“In the past, we were repeatedly criticised for the ringgit’s decline, yet now that it has strengthened, no praise is given,” he said.
“That is the problem. Today, the ringgit stands at RM4.16 against the US dollar and is the best-performing currency in Asia.”
The Prime Minister emphasised that currency valuation is determined by market forces, not government intervention.
This strengthening follows positive sovereign credit ratings from international agencies S&P Global Ratings and Moody’s.
Both agencies affirmed Malaysia’s sovereign ratings at A- and A3 respectively, signalling a stable and strong economic outlook.
At 6 pm yesterday, the ringgit rose 0.4% to 4.1555/1635 against the US dollar from Friday’s close of 4.1735/1775.
This marks the ringgit’s highest level in 13 months, surpassing its previous peak of 4.1625 on October 2, 2024.
As of 8.01 am today, the ringgit strengthened further to 4.1540/1660 against the US dollar from yesterday’s close of 4.1555/1635.
Anwar made these remarks in response to Aminolhuda Hassan (PH-Sri Gading) regarding MADANI Economic Policy effectiveness measurements.
The question focused on how the government assesses policy effectiveness after 18 to 24 months of implementation. – Bernama
