Bank Negara to make onshore RM-US$ trade more attractive

Adnan(Inset pic):

KUALA LUMPUR: Bank Negara will develop the onshore ringgit market to provide more depth to companies and investors engaged in the US dollar-ringgit trade to reduce the influence of the ringgit non-deliverable forward (NDF) market on the local currency.

“We have to look at where we can further expand flexibilities for the onshore market to make the onshore market a more attractive choice and venue for just not residents, but also attract some of the players in the offshore and NDF market, which can include corporates and fund managers,” assistant governor Adnan Zaylani Mohamad Zahid told the media at a briefing yesterday.