Weak Ringgit, But PM Anwar Ibrahim Does Not Agree to Raise Interest Rates


 The Prime Minister, Datuk Seri Anwar Ibrahim expressed his views by rejecting the move to raise loan rates to support the local currency.

The value of the Malaysian Ringgit (RM) currency, which is now seen as weak and declining, has sparked various speculations among the community.

The Malaysian Finance Minister also suggested that the Malaysian Ringgit (RM) be separated from the US Dollar as a solution without increasing the cost of borrowing.

Economic indicator data including inflation and unemployment rates recorded a decrease while investment showed an increase.

Bank Negara Malaysia (BNM) will meet on Wednesday and Thursday to coordinate the latest overnight rate (OPR) policy.

Anwar also explained that the country's economic and currency situation has not yet reached a serious level and it is not a necessity.

For now, Malaysia is still on a comfortable track due to trade relations between China, Indonesia and Thailand.

According to him, discussions were held with several Arab countries to start the dedollarization process, but only succeeded with three countries as a long-term solution to defend the Malaysian Ringgit (RM).