KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak has taken a swipe on the declining ringgit on his Facebook page today.
In his latest posting, he uploaded a chart on the ringgit's performance compared to the US dollar with the caption "Najib turun ringgit naik?" (Najib goes down, the ringgit goes up?).
"Who doesn't remember the slogan 'Najib turun, ringgit naik'?
"The reality is that the ringgit has declined by 24.1 per cent or 90 sen against the US dollar since Najib's downfall in the 14th General Election (GE14).
"Before GE14, the ringgit was strengthening, but changed course once Najib stepped down.
"The ringgit has never recovered to pre-GE14 levels in the past six years since," he wrote.
Yesterday, it was reported that the ringgit hit an all-time low (https://www.nst.com.my/business/economy/2024/02/1010653/updated-ringgit-...) of 3.549 against the Singapore dollar, and continued to slide against the US dollar.
At 9.37am this morning, the ringgit stood at 4.7630/7665 against the greenback (https://www.nst.com.my/business/economy/2024/02/1011027/ringgit-opens-lo...), compared to yesterday's closing rate of 4.7570/7645.
The ringgit also traded lower against a basket of major currencies, including the British pound, euro, Indonesian rupiah, and Philippines' peso.