# Forwards become Malaysia’s favoured tool for boosting the ringgit | FMT

> Bank Negara Malaysia has increasingly used currency forwards to support the ringgit, with its net forward position widening to negative US$27.7 billion in April. Gross foreign reserves stayed stable at US$113.6 billion as of end-May.

- Date: 2024-06-20 · published 2024-06-20T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30072-forwards-become-malaysia-s-favoured-tool-for-boosting-the-ringgit-fmt
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Central bank intervention limits ringgit volatility, which steadies the local cost of palm oil and imported feed without a clear directional price signal.

## Sources

- freemalaysiatoday.com: https://www.freemalaysiatoday.com/category/nation/2024/06/20/forwards-become-malaysias-favoured-tool-for-boosting-the-ringgit

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.