Bank Negara steps up engagements to encourage inflow to forex market

KUALA LUMPUR: Bank Negara governor Datuk Abdul Rasheed Ghaffour said the central bank has stepped up engagements with GLICs, GLCs, corporations and investors to encourage continuous inflows to the foreign exchange market.

In a statement issued today, the governor acknowledged that the ringgit is undervalued.

"Given Malaysia’s positive economic fundamentals and prospects, the ringgit ought to be traded higher," he said.

At midday, the ringgit was trading at 4.7790 against the US dollar.