Public Accounts Committee (PAC) chief Hasan Arifin told the Dewan Rakyat today that the falling ringgit is good for rural folks.

Hasan (BN-Rompin) said this was because a lower ringgit would drive up commodity prices.

"The ringgit depreciation benefits the rural community who relies on commodity prices, which are not that stable.

"But due to the fall in the ringgit compared to the US dollar, it has been very beneficial to the rural community," he said.

Hasan said this while interjecting Rafizi Ramli's (PKR-Pandan) debate on Budget 2016.

The commodities market has been volatile, and prices have been dropping throughout the year, before experiencing a rebound in October.

Crude palm oil (CPO) prices ended higher last week, while the rubber market was mixed.

CPO futures, however, will be affected by the ringgit's movement, traders said.

Meanwhile, Bloomberg's commodity price index of 22 raw materials has fallen for five days straight, and is headed for the longest stretch of declines in two months.

Hasan said the government should not pump money to stabilise the ringgit, but could not elaborate further as Rafizi cut him off due to shortage of time.