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Prime Minister Najib Razak attributed the ringgit's decline to higher US dollar interest rates and sales of Malaysian bonds by non-residents, who hold 34% of the bond market. He said reserves stand at US$95 billion and that Bank Negara has stopped Malaysian firms from taking part in non-deliverable forwards.
Currency weakness raises the ringgit cost of imported feed ingredients for Malaysian buyers. The government's reserve and capital measures aim to limit further pressure.
freemalaysiatoday.comMinderjeet KaurMar 20, 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.
