Ringgit bolstered through joint efforts, says minister

Ringgit bolstered through joint efforts, says minister
The ringgit had risen against the greenback to RM4.68 as of March 8, says second finance minister Amir Hamzah Azizan. (Bernama pic)

PETALING JAYA: The collaboration among Bank Negara Malaysia (BNM), GLCs and government-linked investment companies (GLICs) is seen as positive and has helped to strengthen the ringgit, said second finance minister Amir Hamzah Azizan.

He said the move by BNM, along with the GLCs and GLICs, appears to have succeeded in encouraging continuous inflows into the foreign exchange market.

“When GLCs and GLICs are enjoying better profits from foreign investments, they can repatriate some of these investment profits, and we encourage them to do so.