Economy Minister Rafizi Ramli says intervention in the foreign exchange market is a routine matter for Bank Negara Malaysia. – The Malaysian Insight file pic, June 28, 2023.
“An example is when an export firm exports goods and receives the payments in dollar, so the currency being retained in Malaysia is not in ringgit. If the amount is large and the situation persists, it will obviously have an impact on the ringgit. “While the value of the ringgit will continue to remain market-determined, BNM expects that ongoing measures by the government to further strengthen the economy will help ensure the ringgit better reflects the country’s fundamentals,” he said.
“The lower May 2023 inflation signals a broad decline across all spending categories, marking a comprehensive price stabilisation,” he said.