Today marks the sixth year since the shift to the managed float regime for the ringgit exchange rate. In the six years, the global economic and financial landscape experienced exceptional developments - the worst global economic and financial crisis since the Second World War, and extreme volatility in two-way capital flows. The exchange rate regime has accorded the economy with greater flexibility in facing these challenges. As the global economy recovers, the ringgit has strengthened in line with Malaysia's stronger economic fundamentals. The gradual and orderly adjustments of the ringgit have facilitated the corresponding changes to take place in the real economy.

The Central Bank will continue to focus on facilitating orderly market conditions so that international financial transactions can be conducted in an efficient manner. Going forward, the managed float regime and the flexibility it accords will also continue to facilitate the transformation of the economy as we advance towards being a high-income nation.