KUALA LUMPUR: The ringgit, trading at RM4.16 against the US dollar, is the best-performing currency in Asia, says Datuk Seri Anwar Ibrahim.
Anwar, who is also 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 Prime Minister’s Question Time session in the Dewan Rakyat.
Anwar was responding to a supplementary question from Aminolhuda Hassan (PH-Sri Gading), who asked the government to list measures and the effectiveness of the Madani Economic Policy, as well as ongoing and planned measures to ensure the policy meets its objectives.
Anwar said 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 on Monday (Nov 10), the ringgit rose 0.4% 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 Oct 2, 2024.
As of 8.01am on Tuesday (Nov 11), the ringgit strengthened further to 4.1540/1660 against the US dollar, from 4.1555/1635 at Monday’s close.
