The ringgit has strengthened to RM4.16 against the US dollar, making it the best-performing currency in Asia, Prime Minister Datuk Seri Anwar Ibrahim announced today.
Anwar, who also serves as Finance Minister, said the ringgit’s performance comes despite earlier criticism of the government when the currency was weaker 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. That is the problem,” he said during the Question Time session in the Dewan Rakyat.
“Today, the ringgit stands at RM4.16 against the US dollar and is the best-performing currency in Asia,” he added.
Anwar noted that the ringgit’s rise reflects market confidence rather than government intervention, boosted by positive credit assessments from international rating agencies S&P Global Ratings and Moody’s, both of which reaffirmed Malaysia’s sovereign ratings at A- and A3 respectively, with a stable outlook.
At 6pm yesterday, the ringgit closed 0.4 per cent higher at 4.1555/1635 against the US dollar, improving from 4.1735/1775 last Friday — its highest level in 13 months since October 2, 2024. The uptrend continued this morning, with the ringgit trading at 4.1540/1660 as of 8.01am.
Anwar made the remarks in response to Aminolhuda Hassan (PH–Sri Gading), who asked how the government measures the effectiveness of the Madani Economic Policy after 18 to 24 months, and what measures are in place to ensure its continued success. — Bernama
