Other measures to increase the demand for the ringgit included placing a cap on the amount that companies and individuals could invest locally or abroad in foreign currencies.
PETALING JAYA: Volatility in the US dollar-ringgit foreign exchange (forex) rate is reducing, with the ringgit strengthening by 0.39% to RM4.4490 since the year’s lowest point on Nov 30.
This was following Bank Negara’s recent announcement detailing several measures to prop up the weakening ringgit, including requiring companies to repatriate three-quarters of their earnings from exports back to Malaysia by converting them into ringgit.
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