Bank Negara to stem excessive currency movements in forex market

Bank Negara, as per its statutory mandate, will intervene in the foreign exchange market to stem currency movements that are deemed excessive, said assistant governor Adnan Zaylani.

He said while the value of the ringgit will continue to remain market-determined, the central bank expects ongoing measures by the government to further strengthen the economy would ensure the ringgit better reflects the country’s fundamentals.

“The ringgit continues to be...