China, Thailand, Indonesia Agree to Use Ringgit in Trade Now

Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, confirmed that China, Thailand, and Indonesia have agreed to use the ringgit currency in their trade transactions. This move, discussed during the Minister’s Question Time (MQT) in the Dewan Rakyat, aims to set exports in ringgit value, with 28 percent of Malaysia’s major investment deals involving the local currency.

Ringgit

Anwar believes that using the local currency in trade will help strengthen the RM’s value and is optimistic about an improvement by year-end. He anticipates that policy explanations, economic developments, and increased investment will bolster the RM’s position in the coming months.