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Thursday, November 17, 2016

‘WE ARE INTERVENING’: BANK NEGARA SHOUT OUTS LOUD BUT UPSET INVESTORS IGNORE, SENDING RINGGIT PAST 4.41 TO THE DOLLAR

KUALA LUMPUR, Nov 18 ― Malaysia’s central bank said it’s intervening in the currency market as policy makers across the region contend with exchange-rate volatility.
Fears of capital controls are “baseless” and it’s too damaging and risky to have such measures, Bank Negara Malaysia Assistant Governor Adnan Zaylani told reporters in Kuala Lumpur today.
He said “yes” when asked whether the central bank was currently intervening in the foreign-exchange market.
The ringgit dropped 0.4 per cent as of 11.50am in Kuala Lumpur, and touched 4.4150 per dollar, the weakest since January.
― Bloomberg

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