Malaysia CB To Ensure Ringgit Not Excessively Priced

(RTTNews) - Bank Negara Malaysia said on Friday that it is taking measures to ensure the markets do not price ringgit excessively and out of sync, while providing the necessary liquidity in the foreign exchange market.

Through the Financial Markets Committee, the BNM is also in close engagement with all market participants to update and monitor the market situation, the bank said.

The bank observed that the ringgit foreign exchange market has become prone to extreme movements with the surge in volatility.

Asian currencies weakened for a third day after Donald Trump won the U.S. presidential election. The President-elect has promised a spending boost to stimulate the U.S. economy.