KUALA LUMPUR: Despite the ringgit’s decline to its lowest level against the strong US dollar since the Asian Financial Crisis (AFC) in 1997, Malaysia ...
Despite the ringgit’s decline to its lowest level against the strong US dollar since the Asian Financial Crisis in 1997, Malaysia is far from being in crisis – as the country has a resilient economy, robust banking system and strong external sector, Bank Negara Malaysia governor Datuk Abdul Rasheed Ghaffour said.
“Our capital, our external sector is also very strong with a surplus ... capital account surplus,” he added. A weaker currency is not unique to Malaysia, he said, and the central bank stands ready to maintain stability and support businesses through orderly adjustments, utilising various market measures.
“By 2026, we expect to see at least half of new financing by banks to be aligned with climate supporting or transitioning activities ... BNM will continue to provide a facilitative policy environment,” said Abdul Rasheed.
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