Kuala Lumpur, 23 January 2026 – Malaysia’s sovereign wealth fund Khazanah Nasional Bhd says it expects the Malaysian ringgit to continue strengthening after its run last year as one of Asia’s top-performing currencies.
Datuk Amirul Feisal Wan Zahir, Managing Director of Khazanah, made the comments in a Bloomberg Television interview on the sidelines of the World Economic Forum in Davos, Switzerland on 19 January. He said analysts believe the currency could firm toward around 4 ringgit per US dollar, or even below that level, from its current rate near 4.055.
The ringgit has gained around 11% against the US dollar over the past year, even amid volatility linked to US tariff developments, reflecting improved investor sentiment and stronger domestic fundamentals.
Khazanah’s outlook aligns with recent market dynamics, as the ringgit breached the RM4 level and hit multi-year highs this week amid optimism over Malaysia’s economic performance and supportive monetary policy.
Amirul’s remarks come as Khazanah also signals a broader focus on strategic investment areas including energy infrastructure and semiconductor sector backing, key drivers it sees for longer-term economic resilience and competitiveness in the Asia-Pacific investment cycle.
