BNM's intervention in forex market is not out of the ordinary: Rafizi

According to him, there is a need for BNM to monitor the currency rate movements amid certain situations, especially those involving a large amount of ringgit.

BNM assistant governor Adnan Zaylani, who is also the Financial Markets Committee chairman, said in a statement yesterday that BNM would intervene in the forex market to stem currency movements that were deemed excessive. On the moderation of inflation rate to 2.8 per cent in May 2023, Rafizi said this was the lowest level since the inflation downtrend that began in September 2022 at 4.5 per cent.

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