Reserves up, ringgit underperforms

Reduced volatility: A money changer worker showing rInggit and US dollar notes. Bank Negara’s measures have reduced the volatility of the ringgit against the dollar. It is, however, underperforming against the greenback compared with currencies of neighbouring countries.

THE worst seems to be over for the ringgit. However, the ringgit is also not performing up to par despite the latest data showing that the country’s international reserves are rising.

Bank Negara’s international reserves, which are now at US$95bil, are set to be on the uptrend due to measures taken by the central bank since Nov 11 last year.