Govt hopes pressure on ringgit will reduce after US debt ceiling issue is resolved - Ahmad Maslan

KUALA LUMPUR - The pressure on the ringgit against the US dollar is hoped to lessen when the US debt ceiling issue is resolved over the next few days, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.

He said the government is awaiting the latest developments on the US debt ceiling issue which is expected to be resolved in the next five to six days before taking any action.

He said the US government is striving to resolve its debt ceiling problem as soon as possible while President Joe Biden also said that his administration would try to settle the issue by June 6.

"(There’s) only a few days left (before the deadline), we hope this matter will be resolved, it’s hopeful the ringgit is not as what is happening today," he told a press conference here, today.

He said this after making an official visit to the Securities Commission Malaysia (SC) to attend a briefing on the country’s capital market status. - BERNAMA