Malaysia‘s currency, the ringgit, has experienced a significant rise, sparking various reactions among the population. Some rejoice in its recovery from historic lows, while others are concerned about the impact on their purchasing power.
The ringgit’s value has appreciated more than 12% against the US dollar, marking its best quarter since 1973 and making it the top-performing emerging market currency, as reported by Bloomberg.
Currently trading at 4.12 ringgit to the US dollar, it has surpassed economists’ projections of ending the year at 4.43.
The exchange rate of the ringgit against the US dollar and other regional currencies like the Singapore dollar and Thai baht serves as an economic indicator for Malaysians, reflecting confidence in the government’s policies.
Supporters of Prime Minister Anwar Ibrahim view this currency surge as a testament to his financial expertise, shifting focus from political unrest towards stability.
