# Tengku Zafrul: Flexible ringgit exchange rate important to support domestic economic activity

> Finance Minister Tengku Zafrul said on September 21 that a flexible ringgit exchange rate helps absorb external shocks. He said the government, through Bank Negara, has no plans to peg the ringgit to the US dollar and will keep the market orderly. He added that Malaysia is not in a financial crisis comparable to 1997 and 1998.

- Date: 2022-09-21 · published 2022-09-21T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39867-tengku-zafrul-flexible-ringgit-exchange-rate-important-to-support-domestic
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The government's stance confirms the ringgit will continue floating, so dollar-denominated import costs will follow market moves. Stable market intervention limits sharp, sudden swings in feed costs.

## Read by commodity

- USDMYR: neutral

## Sources

- mof.gov.my: https://www.mof.gov.my/portal/en/news/press-citations/tengku-zafrul-flexible-ringgit-exchange-rate-important-to-support-domestic-economic-activity

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.