: Bank Negara Malaysia welcomed Malaysia’s removal from a US currency manipulation watch list, affirming the ringgit’s market-driven status.
The US Treasury Department’s semi-annual report released Thursday, Nov 14, monitors countries with large trade surpluses with respect to the US that also actively intervene in foreign exchange markets to gain a competitive advantage. “The ringgit’s performance in the third quarter was mainly driven by the US Federal Reserve’s shift towards a monetary policy easing stance, including the cumulative 75-basis points federal funds rate cut in September and November.
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