Bank Negara Malaysia announced Wednesday it will increase measures to strengthen the ringgit, which has been facing pressure from foreign investment outflows and expectations of further US Federal Reserve interest rate hikes. The central bank’s plan includes attracting foreign investment and incentivizing Malaysian state-owned companies and businesses to bring back profits held overseas. This intervention aims to increase demand for the ringgit and stabilize its value. The move signals growing concern over the currency’s recent performance and potential economic impacts. Officials did not specify the exact mechanisms for attracting foreign funds, but emphasized a commitment to market stability. The ringgit has been among the worst-performing currencies in Asia this year. This action reflects a broader trend of Southeast Asian nations attempting to defend their currencies against a strengthening US dollar.