Higher OPR not an option for depreciating Ringgit

KUALA LUMPUR, Sept 13 – Pemuda chief Datuk Dr Asyraf Wajdi Dusuki urges the government to look into the depreciating Ringgit and the Central Bank’s decision in hiking up the overnight policy rate (OPR).

He says although it was not as bad as the RM4.52 rate recorded in 1998, it has already brought about negative bearing to the nation and its people since imported items would be more expensive.

“This is imported inflation. Maybe we don’t give it much attention because we still use Ringgit as the invoicing currency but it will soon eat up into our daily expenses. Even the higher OPR is not right at this moment,” he says in a FB posting.

He suggests for the matter to be weighed by the Prime Minister’s Department, KPDNHEP, the Finance Ministry and Ministry of International Trade and Industry.

“Do consider the impacts on the B40 category.”