The Ministry of Finance (MOF) urges all Malaysians to put the notion of “Malaysia first” in their daily lives, including buying domestic products, use domestic investment platforms and promoting domestic tourism to make every effort to increase the value of the ringgit.
The Ministry of Finance said that the government and Bank Negara are taking specific measures to deal with the depreciation of the ringgit, including ensuring that the domestic foreign exchange market remains orderly while monitoring the conversion of export earnings into the ringgit by exporters.
“The government and Bank Negara Malaysia have also taken comprehensive and coordinated actions to introduce capital flows into the foreign exchange market; and to control overseas investments by private companies, including encouraging them to prioritize investments domestically and defer new overseas investments.”
The government also plans to implement more effective targeted subsidy measures and income assistance, especially to help affected groups, to ensure enhanced financial capabilities through increased productivity, the ministry said.
