Malaysia's central bank, Bank Negara Malaysia, supports the ringgit amidst its lowest level since 1998.
Malaysia's central bank, Bank Negara Malaysia, has pledged support for the ringgit, which is nearing its lowest level since 1998. The central bank will ensure the orderly functioning of the foreign exchange market, with support from government-linked firms, corporations, and exporters to attract flows and liquidity. The ringgit slipped 0.2% to 4.78 per dollar on Monday, but still outperforms regional peers such as the South Korean won, Philippine peso, and Taiwanese dollar.
April 15, 2024
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