PETALING JAYA: Malaysians in the United States under the Fulbright scholarship programme are not affected by the strong US dollar, says Malaysian-American Commission on Education Exchange (Macee) executive director Curtis Johnson.
The ringgit depreciated to a 24-year low against the greenback after it skid to RM4.60.
“For Macee and the Fulbright Malaysia team, it is our goal to be proactive in addressing grantee issues and concerns,” Johnson told The Star.
“Thus far, we have not been informed of any economic hardships regarding our Malaysian grantees.
“In regard to current market fluctuations and their impact on Malaysian grantees, if the grantee is currently in the programme and in the United States, they are required to open a US bank account in which we deposit US dollars for their stipends, so in actuality, they are not impacted in any way by (any) fluctuation,” he added.
Every year, around 130 grantees participate in the Fulbright scholarship programme, the US government’s flagship programme for education and cultural exchange.
“It is Macee’s priority as the facilitator of the Fulbright Malaysia exchange programme to minimise administrative hurdles for American and Malaysian grantees to ensure they enjoy “a wonderful exchange of academics and culture”.
“For example, at the start of the Covid-19 pandemic, Macee went above and beyond by reimbursing every Malaysian grantee for the unexpected quarantine and PCR (test) costs incurred,” said Johnson.
According to Bloomberg, the local note closed at RM4.6375 at 6pm yesterday.
Earlier in the day, the ringgit opened slightly higher for the second day running with 4.6350/6395 against the greenback from Thursday’s closing of 4.6380/6425.
