Do not be taken aback if there are certain quarters, especially from the opposition blocs in Pakatan Harapan who are today sleepless and demented having to watch the recent appreciation in Ringgit. What more with such positive development, this will certainly affect the opposition’s script to demonise the ruling party Barisan Nasional ahead of the 14th general election.
There are also those who are trying very hard to disseminate fake stories as if it is just the BN’s scheme to raise the Ringgit value with malice intention that could create displeasure and anger.
There are also those who are trying very hard to disseminate fake stories as if it is just the BN’s scheme to raise the Ringgit value to impress the rakyat. Is it so? For those who understand and those with the economic background will not be easily affected with such malice intentions that could create displeasure and anger.
By the end of last week, Ringgit ended stronger against the US dollar. Until 6.00pm Friday, it was traded at 3.9700/9730 compared to 3.9950/9000 in the previous week.
To end such tall talks by Pakatan Harapan, Finance Minister II, Datuk Johari Abdul Ghani quipped with a prompt answer to the media that if the government intervention and election fever would cause the Ringgit to strengthen, undoubtedly expect elections held every year.
The government does not interfere in the ringgit, it happens through supply and demand and if there is the abundance of supply and export, it will bring in the USD volume into the country and there will definitely be a demand for the ringgit. The strengthening of the ringgit was also due to robust foreign direct investment (FDI), stable oil prices and positive elements happening in the economy as investors’ confidence view in the economy improved and added with a stable political environment.
However, there are still plenty of room for improvement. The country has strong exports and foreign direct investment, at an improved oil price, as well as our capital markets. All these positive outlooks will indeed benefit us both economically and in the currency.
Ringgit current trend clearly reflects Malaysia’s economic prospects are positive and it could continue to rise in which certain economists may slip to put limits to the Ringgit which in actual fact it is the market that will determine. No one is capable to speculate the currency performance accurately at all times.
However, what the rakyat needs to understand and believe is that our economic fundamentals are strong and durable in which a positive outlook in years to come is available for Malaysia. Under the leadership of Prime Minister Najib Razak, we not only expect but enjoying healthy economic environment and ecosystem. Alas, this upsets the saboteurs and in particular among Pakatan Harapan leaders that soon enough the rakyat will have to reject them at all cost.