Malaysia considers taking measures to stablise ringgit
Muhammad Ibrahim, Governor of the Central Bank of Malaysia, said on February 7 that the continuous devaluation of ringgit forced the bank to consider more measures to stablise the currency if necessary.
Hanoi (VNA) – Muhammad Ibrahim, Governorof the Central Bank of Malaysia, said on February 7 that the continuousdevaluation of ringgit forced the bank to consider more measures to stablisethe currency if necessary.
Muhammad Ibrahimsaid new measures are only applied if they are necessary and they will not includecontrolling capital and adjusting exchange rate but focus on stablising ringgitand ensure the market’s liquidity.
Ringgit is thecurrency with the deepest devaluation among emerging markets in Asia sinceDonald Trump was elected as President of the United States in November 2016.
Since November9, 2016, ringgit has lost 5.3 percent of its value against US dollar.
The measures takenby the Central Bank of Malaysia will need from three to six months to proveeffective.-VNA
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Illustrative image (Source: AFP/VNA)
