PETALING JAYA: The Association of Banks in Malaysia (ABM) expects the new measures introduced by the Financial Markets Committee (FMC) to stabilise the ringgit (pic) to ultimately benefit all the real sectors of the economy.
In a statement, ABM said the measures were for the longer term development of the onshore market and will result in less volatility of the ringgit against major currencies, especially against the US dollar, which is presently the main currency for the country’s trade.
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