How the Ringgit performed against its main trading partners
KUALA LUMPUR: the ringgit depreciated against the currencies of Malaysia’s major trade partners, according to Bank Negara Malaysia (BNM).
It also said all regional currencies depreciated against the US dollar during the month following strong portfolio outflows from the regional financial markets.
According to its statement issued on Wednesday, the outflows were driven by both regional developments as well as global developments. A key driver of outflows was the prospect of an increase in US interest rates.
BNM’s international reserves amounted to RM360.1bil (equivalent to US$95.3bil) as at Sept 15, 2015, sufficient to finance 7.3 months of retained imports and were 1.1 times the short-term external debt.
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