Weak Ringgit, But PM Anwar Ibrahim Does Not Agree to Raise Interest Rates

<p>&nbsp;The Prime Minister, Datuk Seri Anwar Ibrahim expressed his views by rejecting the move to raise loan rates to support the local currency.</p><p><br /></p><p>The value of the Malaysian Ringgit (RM) currency, which is now seen as weak and declining, has sparked various speculations among the community.</p><p><br /></p><p>The Malaysian Finance Minister also suggested that the Malaysian Ringgit (RM) be separated from the US Dollar as a solution without increasing the cost of borrowing.</p><p><br /></p><p>Economic indicator data including inflation and unemployment rates recorded a decrease while investment showed an increase.</p><p><br /></p><p><br /></p><p>Bank Negara Malaysia (BNM) will meet on Wednesday and Thursday to coordinate the latest overnight rate (OPR) policy.</p><p><br /></p><p>Anwar also explained that the country's economic and currency situation has not yet reached a serious level and it is not a necessity.</p><p><br /></p><p>For now, Malaysia is still on a comfortable track due to trade relations between China, Indonesia and Thailand.</p><p><br /></p><p>According to him, discussions were held with several Arab countries to start the dedollarization process, but only succeeded with three countries as a long-term solution to defend the Malaysian Ringgit (RM).</p>