Wee questions Guan Eng's statement over ringgit's performance

  • Nation
  • Tuesday, 23 Apr 2019

PETALING JAYA: Datuk Seri Dr Wee Ka Siong has questioned Lim Guan Eng's assertion that the ringgit's performance should be judged over the period of one year.

The MCA president uploaded a graph charting the ringgit's performance from May 2018 to its current value on social media on Tuesday (April 23).

"This is what has happened in the last 365 days. Good or bad?

"As a 'provisional accountant', does Guan Eng not understand if this chart shows appreciation or depreciation of the ringgit?" he asked in the post.

Pakatan Harapan took over the government after winning GE14 in May 9 last year.

Lim, who is the Finance Minister, said the ringgit's performance should be evaluated on an annual basis, as it was normal for the value of currencies to fluctuate from day to day.

"The ringgit's fluctuations are normal. We will have to see its performance over a year. It won't be very accurate if we do a daily projection. Let's look at the performance at the end of the year," he said in an interview with Bernama on Monday (April 22).

He had been asked whether the government would adopt an intervention policy to curb the dip in the ringgit's value.

Last week, global index provider FTSE Russell said it would review Malaysia's market accessibility level in its World Government Bond Index (WGBI) due to concerns about market liquidity.

This led to the ringgit's weakening as investors were worried about the prospects of the government debt being removed from the index.

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