Loading…
Foreign banks in Malaysia are working out how to comply with the central bank's clampdown on offshore ringgit trading. Onshore banks have sent letters asking offshore counterparts to commit to ceasing ringgit NDF trading.
The ringgit fell to an 11-month low of 4.3850 per dollar, and the 10-year bond yield rose about 17 basis points.
The move acts as an indirect capital control that can weaken the ringgit and reduce foreign participation in Malaysian assets, which affects the dollar cost of Malaysian palm oil and related commodity trade.
cnbc.comReutersNov 18, 2016Not 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.
