KUALA LUMPUR - Malaysia’s finance ministry on Feb 29 dismissed adjusting monetary policy or pegging the ringgit to support the weakened currency, saying it expects the ringgit’s value to appreciate in 2024.
The ringgit has fallen about 3.7 per cent in 2024 so far and briefly hit a 26-year low last week. Malaysia’s central bank has said the currency is undervalued and does not reflect the country’s strong fundamentals.
Second Finance Minister Amir Hamzah Azizan told Parliament the central bank’s monetary policy adjustments were not aimed at influencing foreign exchange, adding that any increase in the country’s benchmark interest rate risked burdening the people.
https://www.straitstimes.com/busine...ver-weak-ringgit-has-markets-eyeing-threshold
The ringgit has fallen about 3.7 per cent in 2024 so far and briefly hit a 26-year low last week. Malaysia’s central bank has said the currency is undervalued and does not reflect the country’s strong fundamentals.
Second Finance Minister Amir Hamzah Azizan told Parliament the central bank’s monetary policy adjustments were not aimed at influencing foreign exchange, adding that any increase in the country’s benchmark interest rate risked burdening the people.
https://www.straitstimes.com/busine...ver-weak-ringgit-has-markets-eyeing-threshold