The government’s integrated strategy helps strengthen the ringgit

KUALA LUMPUR: The integrated strategy implemented by the government through the Ministry of Finance and Bank Negara Malaysia is seen as an effort that strengthens the performance of the ringgit to the position of the second best currency in Asia.

According to Sinar Harian, Finance Minister II, Datuk Seri Amir Hamzah Azizan said that the performance of the ringgit has improved in the six months of this year.

According to him, until last Thursday, the ringgit was in the first position among regional countries with an increase of around two percent.

“The Madani Government’s integrated strategy between the Ministry of Finance and Bank Negara Malaysia shows that the performance of the ringgit is getting stronger.

“As of July 11, the ringgit was in first place among regional countries with an increase of around two percent, while the daily average trading volume of the financial market increased to US$17.6 billion,” he said.

He said this during a press conference in conjunction with the Ministry of Finance’s (MoF) Working Visit to the Immigration, Customs, Quarantine and Security (ICQS) Complex in Pengkalan Kubor here on Sunday.

Also present, Director of the Royal Malaysian Customs Department (JKDM) Kelantan, Wan Jamal Abdul Salam Wan Long.

Amir Hamzah said, on Saturday, the ringgit was around 4.68 against the United States (US) dollar and has been consistently below the 4.70 level.

He commented on the efforts made by the government including the encouragement of foreign direct income by government-linked companies (GLCs) and government-linked investment companies (GLICs) to be brought back to Malaysia.

“The government increased interaction with exporters to convert their revenue into ringgit, monitor the conversion of export and import revenue, strengthen the local economy and continue the promised fiscal reforms.