Many of us depend on Google, the search engine, for obtaining information essential to our daily lives.

Recently, Bank Negara released a statement indicating that Google had published inaccurate exchange rates on March 15.

A screenshot of the exchange rate (1 USD= RM4.98) from Google circulated on various social media platforms.

"This information is incorrect and does not accurately represent actual trading," stated Bank Negara.

According to the press release, "On March 15, 2024, the USD/MYR exchange rate stood at 4.7015 at 9 am and 4.7045 at 5 pm, with an intraday high of 4.7075 in the onshore interbank market for the ringgit, as reported on the BNM website. Over the past two weeks (March 1 – 15, 2024), the ringgit has strengthened by 0.76% against the US dollar."

This marks the second instance in 2024 where Google has provided inaccurate USD/MYR exchange rate data, the first occurring on February 6.

Both BNM and the government are currently seeking clarification from Google regarding this discrepancy.

"Understanding that Google serves as a primary information source for Malaysians, we hope for an explanation to be provided to the public," stated Communications Minister Fahmi Fadzil.

The minister emphasized that as they strive to enhance the nation's economic growth and instill confidence in investors regarding Malaysia, such errors cannot be tolerated.

"Such incidents should not occur, cannot be tolerated, and will not be allowed to recur."