Hold your horses!

Dr Mohd Afzanizam Abdul Rashid is Bank Muamalat Malaysia Berhad's chief economist. He says no need to push panic button over ringgit as Malaysia’s fundamentals remain strong.

DISCUSSIONS over the fate of the ringgit resurface every now and then. This time, the local currency depreciated against the US dollar to its 26-year low of RM4.80 on February 20, 2024.

A sequence of events had occurred in the past few weeks, impacting the ringgit. They revolved around the timing of the US rate cut, which seems to be elusive at this current juncture as the US inflation rate is taking its own sweet time to reach the 2% goal.