ringgit depreciation

Fiscal policy remains best poised as the most effective macro-economic tool to mitigate the impact from the RM's depreciation.

Worries from the international investor community are among the temporary factors contributing to the depreciation of the ringgit at the moment.

Treasury secretary-general, Tan Sri Mohd Irwan Serigar Abdullahs today denied allegation that the declining Ringgit was due to 1Malaysia Development Berhad and Prime Minister, Datuk Seri Najib Razak.

Tourism Malaysia is targeting the sale of 17,896 tourism packages worth RM4.6 million through the MATTA Fair later this month.

Menteri Besar Datuk Seri Mukhriz Mahathir says the silver lining lies when tourists opt for local destinations rather than overseas.

1Malaysia Development Berhad says other currencies have also depreciated following the abrupt fall in oil prices.

The CIMB Group chairman says negative comments and speculations on domestic issues will not help increase the value of the ringgit.

The ringgit depreciation may affect the number of Malaysian students going to New Zealand to further their studies, said New Zealand High Commissioner to Malaysia Dr John Subritzky.

The ringgit depreciation will make Malaysia an interesting destination for foreign students to pursue their studies here, says Higher Education Minister Datuk Seri Idris Jusoh.

Malaysia will be a more lucrative tourism destination for tourists following the volatility in ringgit.

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