Bank Negara to maintain managed exchange-rate regime

KUALA LUMPUR: Bank Negara will not peg the ringgit and institute capital controls for the country even though the ringgit has fallen against the US dollar to its lowest levels in 17 years.

Governor Tan Sri Dr Zeti Akhtar Aziz said that while the drop in the ringgit was unsettling, the central bank is confident that the ringgit would rebound and reflect its fundamentals once the United States raised its interest rates.