Ringgit Moving in the Right Direction, Says BNM

By Loshinniy Nair S. Baskaran,

Kuala Lumpur, 18th August – Bank Negara Malaysia (BNM) has expressed confidence in the positive trajectory of the ringgit, attributing this progress to recent monetary measures.

BNM Governor, Datuk Abdul Rasheed Ghaffour, emphasized that the ringgit’s value is a reflection of Malaysia’s robust economic fundamentals and the broader global economic landscape. While acknowledging the impact of external factors, particularly the actions of the US Federal Reserve, Rasheed assured that BNM is closely monitoring these developments to safeguard the nation’s economic stability.

He reiterated BNM’s commitment to maintaining a stable and resilient ringgit through well-calibrated monetary policies, underscoring the central bank’s proactive approach to navigating both domestic and international challenges.

The governor also highlighted the importance of ensuring that Malaysia’s economic strategies align with long-term goals, aiming to bolster the country’s economic resilience and support sustainable growth.

This stance is part of BNM’s broader effort to instill confidence among investors and the public, emphasizing that Malaysia’s economy remains on solid footing despite global uncertainties.

As part of these efforts, BNM will continue to implement policies that support economic stability, ensuring that the ringgit remains reflective of Malaysia’s economic health in the face of shifting global dynamics, as stated in Free Malaysia Today.