Global issues weighing down the ringgit

The central bank reaffirmed that it will “intervene” to stop excessive currency fluctuations.

PETALING JAYA: Bank Negara’s latest meeting on the ringgit’s depreciation was a disappointment, with no concrete monetary policy solutions offered even as the central bank labelled the depreciation as “excessive”.

While Bank Negara’s Financial Markets Committee (FMC) blamed the external environment as the main driver of the ringgit’s feebleness, it harbours hope that the ongoing measures of the Datuk Seri Anwar Ibrahim administration will support the ringgit.