Bank Negara initiatives help cushion pressure on the ringgit

Bank Negara Malaysia’s (BNM) initiatives have helped cushion the pressure on the ringgit, resulting in the local currency appreciating by 0.5 percent on a nominal effective exchange rate basis.

The coordinated initiatives by the government and BNM with government-linked companies and government-linked investment companies, as well as engagements with corporates and exporters, resulted in greater and more consistent flows into the foreign exchange market.