KUALA LUMPUR, Nov 11 — The ringgit is trading at RM4.16 against the US dollar, making it the best-performing currency in Asia, Prime Minister Datuk Seri Anwar Ibrahim said.
Anwar, who also serves as Finance Minister, said the ringgit’s performance was achieved despite earlier criticism of the government when the domestic currency 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. That is the problem. Today, the ringgit stands at RM4.16 against the US dollar and is the best-performing currency in Asia,” he said during the Question Time session in the Dewan Rakyat today.
He noted that the currency’s valuation was determined by the market, not the government, following 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, signalling a stable and strong economic outlook.
At 6pm yesterday, the ringgit rose 0.4 per cent to 4.1555/1635 against the US dollar, up from 4.1735/1775 at Friday’s close.
The figure marks the ringgit’s highest level in 13 months, after it previously reached 4.1625 on 2 October 2024.
As of 8.01 am today, the ringgit strengthened further to 4.1540/1660 against the US dollar, from 4.1555/1635 at yesterday’s close.
Anwar made the remarks in response to a question from Aminolhuda Hassan (PH-Sri Gading) on how the government measures the effectiveness of the Madani Economic Policy after 18 to 24 months, and on ongoing and planned measures to ensure the policy meets its objectives. — Bernama
