Bank Negara keeping a close tab on the ringgit

Ringgit was traded at 3.4713 against US dollar yesterday.

Apart from requiring proper documentation from remitance agents, Bank Negara is also scrutinising companies and individuals making big investments overseas in an effort to prevent outflow of the ringgit for speculative purposes.

At RM3.4713 to the US dollar yesterday, the ringgit is at its weakest level in about five years.