Malaysia central bank forex


"This is effectively an unofficial capital control. Foreign bond holders can't even convert ringgit to foreign currency after selling bonds," the source added.

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Overnight, the ringgit fell along with other emerging market currencies against the greenback following Mr Donald Trump's victory in the US presidential elections on Wednesday, likely sparking the move by the Malaysia's central bank.

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While that moved appeared to be only a reinforcement of existing regulations, it spooked traders. markets tend to be more sensitive to tea-leaf reading over capital controls in Malaysia because the country was the first to impose them during the Asian Financial Crisis.

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"On a daily basis when we interact with the market, we want to make sure that the noise is not too loud that it makes the price gravitate towards both ends," he told reporters, adding that BNM must "show its presence in the market" during ringgit volatility by "asking banks to ensure the pricing is correctly done.

That intervention should have showed up in the country's foreign-exchange reserves as a decline because the central bank would usually need to sell foreign currencies to purchase ringgit.

Bank Negara Malaysia wishes to announce the reappointment of Dato&rsquo Seri Dr. Noor Azlan bin Ghazali and Dr. Yeah Kim Leng as external members of Bank Negara Malaysia&rsquo s Monetary Policy Committee for a two-year term effective 6 April 7567.

To enable the Bank to meet the objectives of a central bank, it is vested with comprehensive legal powers under the following legislation to regulate and supervise the financial system.

"It wasn't clear what period of time it was referring to. The November 6-65 data suggests that they were not selling dollars, given that valuation effects might even have been negative," he said, noting that the dollar index, which measures the greenback against a basket of currencies, climbed during that period.

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