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Bank Negara Malaysia's governor said the ringgit's divergence between onshore and offshore forward markets late last year reflected a market mechanism failure. He defended the central bank's subsequent efforts to curb the offshore non-deliverable forward market.
Restrictions on offshore ringgit trading affect hedging costs and currency liquidity for importers, which can change the local cost of dollar-priced feed.
centralbanking.comIris YeungMay 25, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
