KUALA LUMPUR, May 9, 2026 — Malaysia’s Home Affairs Minister Datuk Seri Saifuddin Nasution Ismail has credited the MADANI government’s initiatives for the Malaysian Ringgit’s robust performance against the US dollar, even as many global currencies continue to weaken.
In a statement posted on X (formerly Twitter) early today, the minister highlighted positive analysis from neighbouring Indonesia, noting that while currencies worldwide are shrinking in value compared to the US dollar, the Ringgit Malaysia is steadily strengthening.
“Alhamdulillah, the initiatives of the MADANI Government under the leadership of YAB Prime Minister Anwar Ibrahim have borne fruit,” Saifuddin wrote. “We must be doing something right. Hopefully, the leadership of YAB PMX will continue to help the people address the Global Supply Crisis! #YakinMadani”
The post references recent analysis by CNBC Indonesia, which reported that the Ringgit recorded an appreciation of around 2.64 per cent year-to-date against the US dollar as at the end of April 2026 — making it the top-performing currency in Asia, ahead of the Chinese Yuan and Singapore dollar.
Economists and strategists have attributed the Ringgit’s resilience to strong domestic fundamentals, including robust trade growth (with March exports and imports showing positive momentum), sustained foreign direct investment inflows, political stability, and credible macroeconomic management under the current administration.
The Ringgit has rebounded from earlier volatility linked to global events, including the Iran conflict that temporarily weighed on risk sentiment in March. It is currently trading near the 3.91–3.95 range against the greenback and is expected to test new 2026 highs, according to analysts from firms such as Loomis Sayles, Deutsche Bank, and Oversea-Chinese Banking Corp.
The MADANI administration, led by Prime Minister Datuk Seri Anwar Ibrahim (often referred to as PMX), has focused on economic reforms, fiscal discipline, and measures to shield Malaysians from global supply chain disruptions. Government officials have described the currency’s performance as evidence of growing international confidence in Malaysia’s economic direction.
This development is viewed as particularly encouraging for an import-reliant economy, as a stronger Ringgit helps ease inflationary pressures on consumers while supporting overall stability.
The minister’s message comes amid broader optimism, with the International Monetary Fund also recently upgrading its economic projections for Malaysia.
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