KUALA LUMPUR: The ringgit could appreciate to RM4 against the US dollar by the end of the year with Malaysia’s bright economic prospects, Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said today.
"Insya-Allah with bright economic prospects," he said when asked about that possibility after launching the Global Islamic Finance Forum (GIFF) 2025 officiated by Prime Minister Datuk Seri Anwar Ibrahim here today.
Finance Minister II Datuk Seri Amir Hamzah Azizan was recently quoted as saying that the ringgit is set to extend gains with strong domestic spending and as government fiscal prudence cushions US tariff impact.
Amir Hamzah said the local unit may strengthen to "just below” RM4 against the US dollar within 12 months.
In its Economic Outlook 2026 report released recently, the Finance Ministry (MoF) said the ringgit strengthened to RM4.2253, a 5.8 per cent rise against the US dollar from the start of 2025 until the end of August 2025.
The report said the ringgit also gained versus several Asian currencies, including the Indonesian rupiah (8.2 per cent), Philippine peso (4.3 per cent) and Chinese renminbi (3.4 per cent), maintaining its position as one of the region's best-performing currencies.
At 6 pm, the local note inched down to 4.2265/2295 against the US dollar, from Friday’s close of 4.2200/2260. - Bernama
