January 18, 2025

The Hindu Press

Voicing for a Better Community

PM Anwar Affirms Ringgit’s Undervalued Status Amid Gradual Rise

By Loshinniy Nair S. Baskaran,

5th OCTOBER: Prime Minister Anwar Ibrahim stated that the Malaysian ringgit remains undervalued at RM4.10 to the US dollar. He emphasized that this gradual appreciation of the currency, occurring without government intervention, is a positive sign reflecting public confidence in the administration.

Anwar noted that the economic fundamentals are strong, contributing to the ringgit’s resilience. He believes that as confidence in the government grows, the currency will stabilize and strengthen further. The prime minister highlighted the importance of maintaining a market-driven approach to ensure sustainable growth and recovery in the economy.

Despite the current undervaluation, Anwar reassured Malaysians that the situation is improving, driven by various economic initiatives and policies implemented by the government. He expressed optimism that these measures will foster greater investor confidence, ultimately leading to a stronger currency.The prime minister’s comments come amid ongoing global economic challenges that have affected many currencies.

He urged citizens to remain patient and supportive of the government’s efforts to navigate these complexities. Anwar’s administration is committed to ensuring that Malaysia’s economic trajectory remains upward, aiming for a balanced approach that considers both growth and stability.

In conclusion, Anwar’s remarks underscore a hopeful outlook for the Malaysian economy and the ringgit’s future, as the government seeks to bolster public confidence and attract investment, as stated in Malaymail.

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