KUALA LUMPUR – Google Malaysia has apologised for its recent inaccurate US dollar-Malaysian ringgit exchange.
In a reply to Bank Negara Malaysia’s (BNM) post on X, Google Malaysia said the mistake had been rectified with its third-party service provider that furnishes the exchange rate information.
“This issue has now been resolved and we apologise for any confusion caused.
“Google provides currency exchange rates for informational purposes only. Please consult official sources such as https://twitter.com/BNM_official/ website for making any financial decisions,” it posted today.
Last Saturday, Communications Minister Fahmi Fadzil demanded an explanation from Google regarding the bad image it portrayed for the country through its inaccurate ringgit exchange-rate data published on Friday.
Google showed the ringgit being traded at 4.98 against the US dollar.
In reality, the ringgit was quoted at 4.7015 against the greenback at 9am and 4.7045 at 5pm, with an intraday high of 4.7075 in the onshore interbank market for the local note, as published on BNM’s website.
It is noted that this was the second incident in which Google had published inaccurate US dollar-Malaysian ringgit exchange rate data in 2024.
BNM had earlier issued a stern warning letter to Google when the first misreporting occurred on February 6.
Fahmi said that Finance Minister II Datuk Seri Amir Hamzah Azizan and BNM governor Datuk Shaik Abdul Rasheed Ghaffour contacted Google on the matter, and an explanation from the American multinational and technology company was currently pending. – March 18, 2024