QualampurBank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rashid Gafore said Ringit increased by 5.1 percent against the United States (US) dollars against $ 2025 (US), which is mainly inspired by a wide US dollar weakness.
He said that it was inspired by the hopes of exceeding American economic growth, increasing uncertainties on its trade policies and more than increasing concerns over its fiscal stability.
He said, “In addition, coordinated efforts by the government and BNM, including corporates and investors, have encouraged a healthy two-way flow in the domestic forex market seen during the quarter,” he said that today the 2Q 2025 Gross Domestic Product (GDP) has been announced here.
The nominal effective exchange rate (NEER) of Ringit appreciated 1.5 percent of the currencies of major trading partners of Malaysia in 2Q 2025.
Abdul Rashid said that the local currency exchange rate will be affected by external factors.
Malaysia’s favorable economic possibilities and domestic structural reforms are complemented by the ongoing initiative to encourage the flow, continue to support the ringt.
He said, “BNM is committed to ensuring systematic functioning of the domestic foreign exchange market,” he said. – Bernma
