Ringgit At RM3.89 To US Dollar Signals Confidence In Malaysia's Economic Fundamentals

KUALA LUMPUR, Feb 13 (Bernama) — The ringgit, which surged to its highest at RM3.89 against the US dollar in nearly eight years, reflects the growing confidence in the country’s economic fundamentals amid a still-challenging global environment.

Political Secretary to the Malaysian Prime Minister  Ahmad Farhan Fauzi said the local unit’s excellent performance underscores Prime Minister Anwar Ibrahim's success in leading the government, particularly in ensuring political stability and consistent economic policy direction.

“Measures to manage the national expenditure in a disciplined manner, curb leakages and strengthen governance have helped create a conducive environment for investors and the business community.

“Foreign investors' rising confidence has also opened up new job opportunities and attracted high-value investments in key sectors such as technology, advanced manufacturing and renewable energy,” he said in a Facebook post Friday. 

Ahmad Farhan said as more international companies make Malaysia their investment destination, economic opportunities for youth and local entrepreneurs will continue to expand.

The ringgit's strengthening brings about tangible positive impacts to daily life, especially for people who work hard to support their families.

“A stronger currency helps ease the cost of importing essential goods and contributes to price stability. This situation gives the government room to continue expanding assistance and social protection without adding financial burdens on the people,” he said.

Ahmad Farhan said the local unit's strengthening is not merely a figure in the financial markets, but a clear indication that under the Prime Minister’s leadership, government efforts have started to yield concrete results.

“The ringgit’s continued strengthening sends a very clear message. Economic policies implemented wisely, consistently and with integrity are capable of restoring confidence and delivering direct benefits to the people,” he added. — BERNAMA