00:00The RMB movement is influenced by various global and domestic factors,
00:05which also include the price of commodities, the sentiment of the financial market,
00:09and the rise of economic growth.
00:11The RMB performance experienced in recent times is also driven by global development,
00:17especially the strengthening of the US dollar and geopolitical tensions in the Middle East.
00:24The difference of 250 points between Malaysia's interest rate and the US
00:30also pushes investors to shift their exit capital from the domestic market
00:35to the market that provides higher opportunities.
00:38The strong US economy and the continuous inflationary pressure
00:42have forced investors' expectations that the US interest rate
00:47will remain high in the near future for a longer period of time.
00:52This dynamic directly puts pressure on the RMB performance.
00:57To manage the short-term pressure on the RMB,
01:01the government and the Bank of Malaysia have taken appropriate steps
01:05to intensify a more consistent flow to the domestic financial market.
01:10These steps include intensifying the return and exchange of foreign investment
01:16by companies related to the GLC and GLIC governments,
01:21which has resulted in a RMB performance.
01:25The value of the RMB performance surpasses all domestic currencies
01:30and is the only domestic currency that has grown by 1.4%
01:37compared to the US dollar since February 26, 2024.
01:42Meanwhile, most other currencies have shrunk compared to the US dollar.
01:48For example, the Indian rupee has shrunk by 0.8%,
01:53the Singapore dollar by 0.8%,
01:56the Chinese renminbi by 0.9%,
01:59the Thai baht by 1.8%,
02:02the Taiwan dollar by 2.4%,
02:05the Korean won by 3.9%,
02:08the Philippine peso by 4.9%,
02:11the Indonesian rupiah by 5.1%
02:14and the Japanese yen by 5.3%.
02:17In connection with this, the Bank of Malaysia will continue to take appropriate steps
02:22to ensure the stability of the financial markets and the domestic exchange markets.
02:27These steps include the operation of intervention to curb the movement of excess money.
02:33In addition, the Bank of Malaysia is also committed to conducting a balance sheet session
02:37and monitoring the exchange rate of exports to the ringgit to the exporting companies.
02:42The Bank of Malaysia will continue to make efforts to increase the use of local currencies
02:47in the settlement of exports to reduce the dependence on US dollar currencies.
02:54In addition, Malaysia continues to record success in attracting foreign investors
02:59with the investment approved in the first quarter of this year.
03:03This development shows that investors are more confident in the development of the country's economy
03:08and the efforts made by the government.
03:11The flow of foreign investment and funds is expected to continue
03:14and will continue to support the strengthening of the ringgit value.
03:18In the long term, the government remains committed and focused
03:21in the efforts to implement structural renewal policies and fiscal strengthening.
03:26This is expected to increase Malaysia's long-term attractiveness to foreign investors
03:32and will contribute to the strengthening of the ringgit value.
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