Time for a policy to make the ringgit stronger?

“Currency acts as a status symbol of a country. It is seen as strong if it is becoming more valuable relative to another country’s currency. Conversely, a currency is considered weak if it is becoming less valuable versus another country’s currency,” says AmBank Group chief economist Anthony Dass.(pic)

THE weakening of the ringgit, which is heading for its biggest monthly loss in more than five years, raises the issue of whether Malaysia should rewire the economy via a strong or perhaps more stable ringgit policy.

This is especially so as the country aims to be a high-income economy.