# Bank Negara: Measures taken to support ringgit proved successful | Malay Mail

> Bank Negara Malaysia Governor Muhammad Ibrahim said the December 2016 measures supporting the ringgit had succeeded. He cited halved one-month implied volatility and onshore daily FX volume of US$10 billion.

- Date: 2017-07-25 · published 2017-07-25T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/70230-bank-negara-measures-taken-to-support-ringgit-proved-successful-malay-mail
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Currency stabilisation measures that limit exporter retention of foreign currency change the ringgit's supply-demand balance and can affect the economics of Malaysian palm oil exports. The impact on feed prices is limited.

## Read by commodity

- USDMYR: neutral

## Sources

- beta.malaymail.com: https://beta.malaymail.com/news/money/2017/07/25/bank-negara-measures-taken-to-support-ringgit-proved-successful/1428827

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