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The Malaysian ringgit has strengthened by 5.9% against the US dollar year-to-date as of August 13th, and 2.1% based on the nominal effective exchange rate (NEER). Bank Negara Malaysia (BNM) Governor, Datuk Seri Abdul Rasheed Ghaffour, attributed the strengthening ringgit to a weaker US dollar and positive domestic factors, including Malaysia's economic outlook and structural reforms. He expressed optimism about maintaining low inflation despite planned petrol subsidy targeting, with BNM revising its 2025 inflation forecast downwards to 1.5-2.3%.
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