Bank Negara Malaysia’s (BNM) initiatives have helped alleviate pressure on the ringgit, leading to a 0.5 percent appreciation of the local currency on a nominal effective exchange rate (NEER) basis, said the central bank’s governor.
Datuk Abdul Rasheed Ghaffour, speaking at a press conference on Friday (May 17) during the announcement of the first quarter 2024 gross domestic product figures, noted that from the beginning of the year until May 15 this year, the ringgit had depreciated by 2.4 percent against the US dollar, in line with the movements of other regional currencies.
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