# Najib blames RM decline on US Fed action, sale of Malaysian bonds | FMT

> 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.

- Date: 2017-03-20 · published 2017-03-20T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/72264-najib-blames-rm-decline-on-us-fed-action-sale-of-malaysian-bonds-fmt
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

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.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- freemalaysiatoday.com: https://www.freemalaysiatoday.com/category/nation/2017/03/20/najib-blames-rm-decline-on-us-fed-action-sale-of-malaysian-bonds

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