Finance Minister Tengku Zafrul Abdul Aziz says the government remains proactive in ensuring the stability of the ringgit and the financial market. – The Malaysian Insight file pic, August 11, 2022.
“We also ensure that the flexible exchange policy remains Malaysia’s first line of defence to absorb external shocks, while at the same time, ensuring that domestic lending activities continue to be supported,” he said in reply to Senator Jefridin Atan’s supplementary question on the government’s measures to minimise the impact of aggressive monetary tightening measures by the United States Federal Reserve.
The value of the ringgit decreased by 6.5% against the US dollar from January to August 9, in line with the movement of regional currencies and developed countries. Tengku Zafrul said the ringgit’s value performance needs to be looked at holistically, and opined that on average, the ringgit’s exchange rate is not too affected as opposed to Malaysia’s trading partner currencies.
Rather than Whining.. you better listen how ringgit works!
Salesman talk cxxx all the time ...
This useless minister is good for nothing!! Let's wait what he has to say when ringgit dip to 4.50 against USD1.
Proactive in concealing the truth from public...
Currency ❌
The Malaysian Government has nothing to do with monetary policy. Is the Minister implying the Malaysian Central Bank doesn’t operate independently? Take instructions from the PM & Finance Minister?