The Malaysian ringgit is back in the spotlight, climbing to its highest level in the past four years. This surge isn’t happening by chance. A combination of shifting global trade policies, robust economic fundamentals, and growing foreign investor interest has positioned the ringgit in a highly favorable position.
Rupiah Weakens as Ringgit Strengthens
According to Refinitiv data on Tuesday (11/11/2025) at 09:40 WIB, the Indonesian rupiah weakened 0.37% to Rp4,011 per Malaysian ringgit — its lowest level against the MYR since 2007.
Year-to-date, the rupiah has already fallen 11.67% against the ringgit, compared to around Rp3,591/MYR at the start of 2025.
This movement is not only about the rupiah losing ground — it highlights how remarkably strong the ringgit has been performing.
Ringgit: Asia’s Best-Performing Currency
Bloomberg reports that the ringgit is the best-performing currency in Asia this year. Analysts attribute Malaysia’s strong economic rebound throughout 2025 as the primary reason foreign investors have been heavily purchasing the country’s bonds — a trend that has pushed the MYR even higher.
Malaysia’s economic growth in Q3 2025 exceeded expectations, supported by a recovery in global demand for exported goods.
On the monetary side, Bank Negara Malaysia kept its benchmark interest rate unchanged, signaling confidence in the country’s economic resilience. These combined factors have driven the ringgit to strengthen more than 8% this year.
Domestic Factors: Fiscal Stability Takes Center Stage
Beyond global influences, Malaysia’s domestic policy has also played a key role in supporting the ringgit. The government has maintained fiscal stability, reinforcing investor confidence.
Malaysia’s Second Finance Minister, Datuk Seri Amir Hamzah, even stated that the ringgit could break below MYR 4.00 per US dollar by 2026. This optimism is backed by plans to reduce the fiscal deficit to 3% of GDP by 2028.
A series of fiscal reforms and public spending efficiencies has strengthened the credibility of Malaysia’s economic policy. While some ASEAN countries continue to face policy uncertainties, Malaysia stands out for its relatively stable political and fiscal environment.
What Does This Mean for Malaysia Going Forward?
With strong fundamentals, improving export demand, and clearer economic direction, the ringgit is entering a “golden momentum.” If this trend continues, Malaysia could maintain its position as one of the most attractive financial markets in the region.
For investors, this is a promising signal. For businesses and the general public, it reflects renewed confidence in Malaysia’s economic outlook — supported by consistent fiscal and monetary strategies.
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