Bank Negara accepts US$ deposits to help build Malaysia's reserves


Sufficient liquidity: Zeti has pledged in August to rebuild the reserves. – Bloomberg

KUALA LUMPUR: Bank Negara has started taking in interbank dollar deposits for the first time in September to try and slow a slide in Asia’s worst-performing currency.

The central bank is accepting deposits in small amounts, according to a person familiar, who asked not to be identified because of company policy.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Interbank , Bank negara , dollar , US$ , deposits , reserves , Malaysia , Zeti , economy ,

   

Next In Business News

Trading ideas: Pasukhas, BHIC, JAKS, Protasco, Sarawak Cable, Epicon, Annum, Yinson, Ajinomoto
New warehouses poised to propel Tasco
Australian airport project expected to fuel PGF’s earnings
Epicon exits PN17 category
Duopharma’s new RM578mil contracts a positive
IOIProp to gain from higher wages
BHIC bags Navy submarine job from Mindef
CIMB Niaga looks to adopt stricter pricing discipline
Feytech Holdings aims to raise RM114mil from IPO
Bursa on track to hit pre-tax profit target for FY24

Others Also Read