PUTRAJAYA - Prime Minister Najib Razak on Monday (Jan 9) communicated certainty that measures taken by Bank Negara Malaysia will balance out the estimation of the ringgit that has slid against the US dollar.
Addressing government workers at the Prime Minister's Department month to month get together on Monday, Mr Najib said that the ringgit was not a "special case" with regards to monetary forms' devaluing value."Out of 149 monetary forms on the planet, 123 have deteriorated against the US dollar, so the ringgit is not an exemption," he said. He said that the ringgit's devaluation is brought about by inordinate seaward hypothesis, the fall of raw petroleum costs, and loan costs of the US Federal Reserve.
"In any case, Bank Negara are taking measures which can settle the ringgit and would stop the instability," he included. BNM had set out measures to intercede and to control the ringgit's esteem in the remote trade showcase before the end of last year.
The ringgit, which has been declining since the fall of unrefined petroleum costs in late 2014, took a further hit before the end of last year taking after the triumph of Mr Donald Trump in the US presidential races.
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