BNM's initiatives help cushion pressure on the ringgit

KUALA LUMPUR: Bank Negara Malaysia’s (BNM) initiatives have helped cushion the pressure on the ringgit, resulting in the local currency appreciating by 0.5 per cent on a nominal effective exchange rate (NEER) basis.

The coordinated initiatives by the government and BNM with government-linked companies and government-linked investment companies, as well as engagements with corporates and exporters resulted in greater and more consistent flows into the foreign exchange market.