KUALA LUMPUR – The ringgit, along with regional currencies, began to stabilise towards the end of the fourth quarter 2016 and amidst higher stability in global financial markets, says Bank Negara Malaysia (BNM).
“The implementation of measures to develop, deepen, and address the rising imbalances in the domestic foreign exchange market, and firmer global crude oil prices, lent stability to the domestic foreign exchange market towards the end of the quarter,” it said in a statement today.
BNM today announced its fourth quarter 2016 results, which showed it expanded by 4.5 per cent versus the 4.3 per cent recorded in the third quarter.
The central bank said the ringgit also faced additional adjustments during the quarter following speculative activity in the non-deliverable forward (NDF) market. – BERNAMA