The Malaysian government is open to the idea of making the ringgit, which recently touched a 13-year high, tradeable offshore again, Prime Minister Datuk Seri Najib Razak said today.
“We are quite adaptive, and if we think that it’s going to help the economy, certainly we will review the situation,” he said in an interview with CNBC Asia’s Martin Soong aired today.
The ringgit, which traded at a 13-year high of RM3.11 versus the greenback on Sept 6, was reflecting the fundamentals of the country’s economy and would not bring a negative impact on the nation’s exports, he said.
“The government is monitoring the situation all the time, very closely,” he said in the interview.
He also said that the government was comfortable with the current level.
Najib, who is also the finance minister, said that most investors felt that the issue of whether the currency was tradeable overseas was not the key determinant in their investment decisions.
“Most importantly, there is no restriction in terms of repatriation of dividends and profits, for example, and bringing in currency through the banking system. So, it is not really a major factor,” he said. — Bernama
No comments:
Post a Comment