Bank Negara
Malaysia (BNM) has taken measures to stem the volatility in the foreign
exchange market.
Multi Management and Future Solutions Malaysia: The under-weight ringgit has fallen further, touching the 4.4030 detriment for the US dollar as speculators reacted to the US Federal Reserve System's (Fed) Chair Janet Yellen's comment yesterday flagging that the US loan fee may rise soon.
At 10 am, the ringgit was exchanging at 4.4030/4100 against the US dollar.
Bank Negara Malaysia (BNM) has taken measures to stem the instability in the remote trade showcase.
Mercury Security Sdn Bhd's Head of Research, Edmund Tham, said despite the fact that the national bank repeated that the inland rate of the money is the right reference cost and advised privately authorized banks not to encourage any ringgit non-deliverable forward, or seaward rate, the ringgit still fell further.
"The question now is we have to see what the BNM can do to settle and reinforce the ringgit esteem against the US dollar.
"The offering weight on the ringgit and the downtrend of other rising monetary forms keeps on happening on the grounds that the US dollar is consistently fortifying.
"The circumstance must be analyzed and it is trusted the BNM will follow up on this, as there is nothing that people in general can do," he told Bernama today.
At 9.10 am today, the ringgit was exchanging at 4.3950/4020 against the greenback from 4.3900/3970 on Thursday.
Our Recommendations :
Multi Management and Future Solutions Malaysia: The under-weight ringgit has fallen further, touching the 4.4030 detriment for the US dollar as speculators reacted to the US Federal Reserve System's (Fed) Chair Janet Yellen's comment yesterday flagging that the US loan fee may rise soon.
At 10 am, the ringgit was exchanging at 4.4030/4100 against the US dollar.
Bank Negara Malaysia (BNM) has taken measures to stem the instability in the remote trade showcase.
Mercury Security Sdn Bhd's Head of Research, Edmund Tham, said despite the fact that the national bank repeated that the inland rate of the money is the right reference cost and advised privately authorized banks not to encourage any ringgit non-deliverable forward, or seaward rate, the ringgit still fell further.
"The question now is we have to see what the BNM can do to settle and reinforce the ringgit esteem against the US dollar.
"The offering weight on the ringgit and the downtrend of other rising monetary forms keeps on happening on the grounds that the US dollar is consistently fortifying.
"The circumstance must be analyzed and it is trusted the BNM will follow up on this, as there is nothing that people in general can do," he told Bernama today.
At 9.10 am today, the ringgit was exchanging at 4.3950/4020 against the greenback from 4.3900/3970 on Thursday.
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