TUMPAT: Encouraging foreign direct investments by government-linked companies (GLCs) and government-linked investment companies (GLICs) to Malaysia, as well as monitoring the exchange of export and import revenues, are among the concerted efforts undertaken by the government to strengthen the ringgit, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said he is confident that the country's currency performance will improve in the second half of 2024 with integrated efforts and efficient fiscal management.
"As we can see, the ringgit yesterday was around 4.68 against the US dollar and has been consistently below the 4.70 level.
"Thankfully, in the past six months, we have seen an improvement in the ringgit's performance due to the government's integrated strategy between the Ministry of Finance and Bank Negara Malaysia, which has shown the ringgit strengthening," he said.
Amir Hamzah made this statement to reporters after conducting a working visit to the Immigration, Customs, Quarantine, and Security Complex (ICQS) in Pengkalan Kubor here today.
He said as of July 11, the ringgit was in the top position among regional countries with an increase of about two per cent, with the average daily trading volume in the financial market rising to US$17.6 billion.