Kuala lumpur: The ringgit is trading at RM4.16 against the US dollar, making it the best-performing currency in Asia, Prime Minister Datuk Seri Anwar Ibrahim said. Anwar, who also serves as Finance Minister, highlighted that the ringgit’s performance was achieved despite earlier criticism of the government when the domestic currency had weakened against the greenback.

According to BERNAMA News Agency, Anwar pointed out that the criticism was frequent when the ringgit’s value declined, yet the commendation was absent during its recent strengthening. “In the past, we were repeatedly criticised for the ringgit’s decline, yet now that it has strengthened, no praise is given. That is the problem. Today, the ringgit stands at RM4.16 against the US dollar and is the best-performing currency in Asia,” Anwar stated during the Question Time session in the Dewan Rakyat.

He further explained that the currency’s valuation was determined by the market rather than the government. This follows positive sovereign credit ratings from international agencies S and P Global Ratings and Moody’s, both of which affirmed Malaysia’s sovereign ratings at A- and A3, indicating a stable and strong economic outlook.

At 6 pm yesterday, the ringgit rose by 0.4 percent to 4.1555/1635 against the US dollar, an increase from 4.1735/1775 at Friday’s close. This figure marks the ringgit’s highest level in 13 months, after previously reaching 4.1625 on 2 October 2024.

As of 8.01 am today, the ringgit further strengthened to 4.1540/1660 against the US dollar, improving from 4.1555/1635 at yesterday’s close. Anwar’s remarks came in response to a question from Aminolhuda Hassan (PH-Sri Gading) on how the government measures the effectiveness of the MADANI Economic Policy after 18 to 24 months, and on ongoing and planned measures to ensure the policy meets its objectives.