Malaysia will rely on central bank over ringgit

Malaysia has revealed that it will rely on central bank intervention rather than a currency trading band to maintain the stability of its managed float of the ringgit.

The ringgit's float against a trade-weighted basket of foreign currencies would differ from that of China, which will set a daily trading band of plus or minus 0.3 per cent for the renminbi.

Nor Mohamed Yakcop, Malaysia's second finance minister, said the central bank would intervene if there was "undue volatility", but the gover