# Bank Negara to stem excessive currency movements in forex market | Malaysiakini

> Bank Negara, through its Financial Markets Committee, said it will intervene in the forex market to curb movements it deems excessive. The committee also noted that exporters are retaining more foreign-currency proceeds, which could weigh on the ringgit.

- Date: 2023-06-27 · published 2023-06-27T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/35774-bank-negara-to-stem-excessive-currency-movements-in-forex-market-malaysiakini
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Intervention to slow ringgit weakness would ease import costs for feed ingredients over time. The grain market impact is indirect because dollar prices dominate.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- staging.malaysiakini.com: https://staging.malaysiakini.com/news/670139-bank-negara-to-stem-excessive-currency-movements-in-forex-market

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