Ringgit vs Rupiah: Fact Check – No Rejection & Rupiah Rise

Videos circulating on social media claiming the Malaysian ringgit is being rejected in Thailand, the Philippines, and Saudi Arabia as the rupiah strengthens are false, according to a fact-check investigation.

Origin of the Claims

The videos, appearing on Instagram, Facebook, and TikTok beginning January 27, 2026, show content creators discussing alleged rejections of the ringgit at currency exchange services. Several accounts posted claims such as, “Malaysia is in shock. The ringgit is rejected worldwide, while the rupiah is in high demand in Saudi Arabia.”

The claim that Malaysian currency is being rejected abroad has been a recurring rumor since 2016. In 2016, currency exchange outlets in Bangkok and Jakarta denied the issue, stating they had no issues processing Ringgit transactions and maintained sufficient supplies, according to The New Straits Times.

Investigations revealed the claim originated from a TikTok post by syafirulizwan in 2022, with similar videos appearing on the account cikguqiqin that same year. Both creators referenced an article on the Kosmo website discussing the issue of currency exchange refusal.

Economic Analysis

Adhitya Wardhono, a lecturer at the Faculty of Economics and Business, University of Jember, believes the narrative lacks a solid basis, stating no authority has issued a policy to block specific currencies. He explained that currency exchange operators can choose to accept or reject currencies based on demand, liquidity, operational costs, and risk management.

Esther Sri Astuti, Executive Director of the Institute for Development of Economics and Finance (Indef), also deemed the claim inaccurate, citing observed economic progress in Malaysia during a recent visit.

Rupiah and Ringgit Performance

Contrary to the claims, the ringgit was the best performing currency in 2025, according to Free Malaysia Today. Meanwhile, the rupiah exchange rate weakened against neighboring currencies in early 2026.

From the beginning of 2026 until January 21, 2026, the rupiah fell 2.98 percent against the Thai baht, 1.95 percent against the Malaysian ringgit, and 1.78 percent against the Singapore dollar, as reported by CNBC Indonesia. On February 6, 2026, it took Rp4,270 to obtain 1 MYR.

Teuku Riefky, a macroeconomic and financial market researcher at the University of Indonesia, also stated the social media narrative was incorrect, noting the Malaysian ringgit exchange rate is relatively stable despite slower economic growth compared to Indonesia. He attributed Indonesian currency instability to poor market transparency and policy uncertainty, leading to capital outflows.

Tempo’s verification concluded that the narrative claiming the Malaysian ringgit is rejected in various countries while the rupiah is in high demand is false. The content originated on social media in 2022, and the rupiah has tended to weaken against the ringgit over the past year.

TEMPO FACT-CHECK TEAM

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