Ringgit continues to strengthen driven by economic growth – Amir Hamzah

SEPANG: The ringgit is projected to continue to strengthen, supported by the government’s ongoing efforts to boost the economy and thus stimulate more investment into the country.

Finance Minister II Datuk Seri Amir Hamzah Azizan said the high demand for the ringgit would help strengthen the local currency better.

“What we learned this time, if there is a joint venture between the government, government-related companies, government-related investment companies and Bank Negara Malaysia, we can stabilize the ringgit in any situation.

“As long as Malaysia is stronger economically, the ringgit will strengthen,” he told reporters after the inauguration ceremony of 40 units of the Royal Malaysian Customs Department’s baggage scanners at Kuala Lumpur International Airport (KLIA) Terminal 1 here today.

Amir Hamzah said the performance of the ringgit has continued to strengthen recently due to the good development of the country’s economy, increased investment into the country and the movement of interest rates in the United States.

“The ringgit is still strengthening and is looking for the right balance,” he said while informing that the currency is also strengthening against other major currencies in the region.

The ringgit today closed at 4.12 against the US dollar, thus appearing among the best performing currencies in the world.

— BERNAMA