Ringgit performance not that bad as claimed – Najib

Nov 29, 2016

Ringgit

The ringgit performance dropping slightly compared to the United States dollar, is not as bad as claimed by certain quarters said Prime Minister Najib Razak.

He said based on the international monetary performance chart, including ringgit, it was found that there were weaker currencies impacted by external effects.

Najib, who is also Finance Minister, said he had talked to Bank Negara Malaysia Governor Muhammad Ibrahim on the performance of the ringgit, Bernama reported.

There are also currencies which are performing better. We sit in between.

“And if we look in terms of a basket of currencies, we have not dropped much, only with the US dollar. So, this is an external effect which is beyond our control,” he said at the special question and answer session programme for the 2016 Umno General Assembly.

The one-hour programme was hosted by Hamdan Ahmir and participated by Utusan Malaysia editor Zulkefli Hamzah and RTM television personality Sayed Munawar Sayed Mohd Mustar.

Najib reminded the people not to be confused with the effect in the drop of the ringgit since it was beyond control.

He also explained that the hike in the interest rate in the United States and certain policies, for example, brought certain implications not only to the world but also Malaysia.

 

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