BNM Governor Tan Sri Dr Zeti Akhtar Aziz said the development is very welcome and going forward, will see other currencies increase in significance as a reserve in the monetary system.
KUALA LUMPUR: Bank Negara Malaysia (BNM) has welcomed the International Monetary Fund's (IMF) latest move in adding China's renminbi (RMB) as a reserve currency, saying it would contribute much to stability in the international monetary system.
"At the Asean level, for those countries that have significant trade with China, I do believe they will use the RMB as the trade currency, because in doing so, it will not expose them to the volatility of the third currency," she added.
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