THE ringgit’s performance was not expected to affect the country’s economic growth, Prime Minister Anwar Ibrahim said.

He said the performance of the ringgit and regional currencies continued to be driven by external factors, especially the expectation that the United States’ interest rates would remain elevated in the long term.

“The government’s efforts towards structural reforms, including initiatives via the New Industrial Master Plan 2030 and the Energy Transition Roadmap, will strengthen Malaysia’s competitiveness.

“This will increase the country’s attractiveness to foreign investors, further strengthening the ringgit’s value more sustainably,” he said in a statement after chairing the National Economic Action Council meeting today.

Anwar said Bank Negara Malaysia has committed to curbing excessive volatility to ensure the ringgit exchange market remained in order. – Bernama, November 6, 2023.