00:00Ringgit is now the world's best currency, compared to the US dollar,
00:07said right-hand man at MUFG Bank, Lloyd Chan.
00:10Bloomberg data shows that the value of ringgit rose by 14.35% compared to the US dollar
00:18in the last three months, surpassing gold, which rose 14.2% in second place.
00:25Chan promoted the recovery of ringgit with the growth of Malaysian economy and the decline in interest rates
00:31of the US Federal Reserve, which continues.
00:34Chan said that Thailand also showed a strong performance compared to the US dollar
00:39due to the country's growing prospects, which is getting better,
00:43the start of the investment industry and the increase in gold prices.
00:47Chan said that ringgit has a potential to reach its highest level in five years,
00:51i.e. RM4, compared to the US dollar by the end of this year,
00:56if the market sentiment remains positive towards ASEAN currency
01:00and the US Federal Reserve reduces its interest rate by 50 percent.
01:06On September 27, BMI Country Risk and Industry Research,
01:11a Fitch Solutions unit recovered ringgit at the end of 2024 to RM4,
01:17compared to the US dollar and is expected to continue to grow in 2025.
01:22The head of BMI, Afzal Nizam Abdul Rashid,
01:26maintained that the demand for ringgit remains strong.
01:29Analysts say that ringgit may continue to increase
01:32supported by the difference in interest rates is getting smaller
01:36with the US and Malaysia's trade performance getting better.
01:41Zainal Imam Muhammad Yusof, Berita FMT.
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