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THE national currency has staged a strong rebound, climbing from roughly 4.70 against the US dollar in previous years to the current 3.9135, marking it as one of the region’s best-performing currencies, according to Apurva Sanghi, lead economist for Malaysia at the World Bank.
“At 4.15 pm today, the ringgit was trading at 3.9135 against the US dollar,” Sanghi noted on social media platform X, highlighting that Malaysia’s economy remains on solid footing, supported by sustained economic growth, low inflation, and rising real wages.
“A strong ringgit is helping to bring down prices of imported food items such as onions, cabbage and rice,” he added, pointing to tangible benefits for Malaysian consumers amid the currency’s rally.
Sanghi also identified tourism as a “surprising bright spot” for the country, emphasising the importance of maximising value per visitor through experience-driven tourism, citing initiatives such as the Mulu Cave tour in Sarawak as examples of high-value tourist offerings.
Turning to the labour market, Sanghi raised concerns about the impact of artificial intelligence on employment, noting that around half of Malaysian workers face a high risk of automation, while approximately a quarter are exposed to generative AI.
“Job losses are real, but history shows that broad technological waves also create new jobs, much like the internet era of the 1990s,” he said. “Back then, few could have predicted that some of the most desirable jobs would eventually emerge in companies such as Facebook, Apple and Google.”
Sanghi highlighted that early AI-era roles are already appearing in Malaysia, including AI trainers, data curators, and prompt engineers, while “human-touch” professions, such as elder care, could experience rising demand and attractive returns.
“For an ageing Malaysia, this represents a wide-open and underexplored opportunity,” he concluded, suggesting that technological shifts, while disruptive, may also unlock new avenues for growth and employment in the country. - January 28, 2026