Bank Negara takes on currency speculators

For the past two years, the ringgit had been weaker against the US dollar in the offshore market compared with the onshore market, indicating bearish sentiment going forward. However the ringgit is not the only emerging market currency that had come under pressure

KUALA LUMPUR: In a bid to stabilise the volatile ringgit, Bank Negara is expected to maintain precautionary measures to ensure proper price discovery.

The central bank will also curb speculative activity in the offshore market which has driven the currency far off from its fundamentals.