# Malaysia's central bank says will no longer tolerate ringgit trade in NDF market | Reuters

> Bank Negara Malaysia Governor Muhammad Ibrahim said local banks have been told that onshore opening ringgit prices cannot reference offshore prices. The central bank will no longer tolerate ringgit trading in the non-deliverable forwards market. The ringgit had already slid to an 11-month low of 4.41 per dollar.

- Date: 2016-11-19 · published 2016-11-19T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/74105-malaysia-s-central-bank-says-will-no-longer-tolerate-ringgit-trade-in-ndf
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Curbing offshore ringgit trading tightens capital controls and weakens the currency, which raises the dollar cost of Malaysian palm oil imports and can shift palm oil trade pricing.

## Read by commodity

- USDMYR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/markets/malaysias-central-bank-says-will-no-longer-tolerate-ringgit-trade-in-ndf-market-idUSL4N1DK04Y/

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