Bank Negara governor defends efforts to curb NDF market
Malaysian central bank will continue its actions to improve market mechanism
The divergence of the Malaysian ringgit in onshore and offshore forward markets late last year was a result of a market mechanism failure, the governor of Bank Negara Malaysia (BNM) has said.
Speaking during a dinner event at the Risk Asean conference in Kuala Lumpur on May 24, Muhammad bin Ibrahim defended the central bank’s subsequent efforts to curb the offshore non-deliverable forward (NDF) market.
After Donald Trump’s victory in the US presidential election late last year, the ringgit
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