Central bank says ringgit, exchange rate volatility due to cyclical factors

The ringgit , touched a low of 4.4785 per U.S. dollar, according to Reuters data - its weakest level since January 1998, during the height of the Asian financial crisis.

PETALING JAYA: Bank Negara said in its 2016 Annual Report that a large part of the rise in exchange rate volatility in recent years can be attributed to cyclical factors.

These factors included the unprecedented introduction of unconventional monetary policies of the major developed countries in the post-crisis years and global developments that have led to shifts in sentiments in the global financial markets, it said.