The performance of the ringgit does not reflect Malaysia's positive outlook, said the BNM| governor
freemalaysiatoday.com/category/bahasa/tempatan/2024/02/20/prestasi-ringgit-tak-mencerminkan-prospek-positif-malaysia-kata-gabenor-bnm/
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Ringgit’s Value Masks Malaysia’s Economic OutlookExports rose 8.7% in January 2024 despite ringgit hitting its lowest level in 26 years amid external pressures.
Key FactsFeb 20, 2024 · Reading time: ~45 sec.
Summary created with AI assistance · Source: freemalaysiatoday.com
Summary created with AI assistance · Source: freemalaysiatoday.com
- Recent ringgit depreciation mirrors external influences such as fluctuating US interest rate expectations and geopolitical risks.
- The central bank governor noted that current currency levels do not represent Malaysia’s positive economic prospects.
- Exports have shown steady growth since Q4 2023, with an 8.7% increase recorded in January 2024.
- Tourism recovery and rising investments from approved projects contribute to optimistic forecasts for 2024.
BNM believes that the recent level of the ringgit does not reflect the positive prospects for Malaysia's economy in the future.— Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia (BNM), in a statement
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