Gov't seeking to resolve issue of ringgit's depreciation - Dr M

The government will seek ways to resolve the issue of the ringgit's depreciation, as it is a source of concern among Malaysians, said Prime Minister Dr Mahathir Mohamad.

“One of the reasons (for the depreciation) is the devaluation by certain parties. Previously, our currency was quoted at 3.80 against the US dollar, but now it is 4.20. Due to (the easing of) our currency's value, everything that we buy has become more expensive,” he told reporters after attending the Muslim Welfare Organisation Malaysia (Perkim) 58th national annual general meeting in Petaling Jaya today.

Dr Mahathir was responding to media reports on a study conducted by independent think-tank Emir Research that found the National Worry Index is at the “maximum” level, with a score of 0.77 on a scale between zero and one.

Cost of living was reported to be the source of most worry for Malaysians polled, scoring 0.81.

- Bernama