KUALA LUMPUR: Bank Negara Malaysia (BNM) 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.
Assistant Governor Adnan Zaylani said in a statement on Friday recent offshore market activities have brought on significant volatility and undue adverse influence on ringgit prices.
“As the ringgit is a non-internationalised currency, prices should be fully determined by onshore financial market transactions that are be driven only by the fundamentals and genuine trade and investment activities in Malaysia,” he said.
Below is the statement by the Financial Markets Committee on Financial Market Stabilisation Measures:
With the surge in volatility, the ringgit foreign exchange market has become prone to extreme movements.
“Recent offshore market activities have brought on significant volatility and undue adverse influence on ringgit prices.
"As the ringgit is a non-internationalised currency, prices should be fully determined by onshore financial market transactions that are be driven only by the fundamentals and genuine trade and investment activities in Malaysia”, says Assistant Governor Adnan Zaylani.
Bank Negara Malaysia 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.
The Central Bank, through the Financial Markets Committee (FMC), is also in close engagement with all market participants to update and monitor the market situation.
The FMC thus would like to reiterate to market participants that Malaysian financial markets are open to all market participants to facilitate their financial market transactions and capital flows arising from the real economic sectors, trade and investment activities.
Assistant Governor Adnan Zaylani said in a statement on Friday recent offshore market activities have brought on significant volatility and undue adverse influence on ringgit prices.
“As the ringgit is a non-internationalised currency, prices should be fully determined by onshore financial market transactions that are be driven only by the fundamentals and genuine trade and investment activities in Malaysia,” he said.
Below is the statement by the Financial Markets Committee on Financial Market Stabilisation Measures:
With the surge in volatility, the ringgit foreign exchange market has become prone to extreme movements.
“Recent offshore market activities have brought on significant volatility and undue adverse influence on ringgit prices.
"As the ringgit is a non-internationalised currency, prices should be fully determined by onshore financial market transactions that are be driven only by the fundamentals and genuine trade and investment activities in Malaysia”, says Assistant Governor Adnan Zaylani.
Bank Negara Malaysia 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.
The Central Bank, through the Financial Markets Committee (FMC), is also in close engagement with all market participants to update and monitor the market situation.
The FMC thus would like to reiterate to market participants that Malaysian financial markets are open to all market participants to facilitate their financial market transactions and capital flows arising from the real economic sectors, trade and investment activities.
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