Malaysia considers taking measures to stablise ringgit
Hanoi (VNA) – Muhammad Ibrahim, Governor
of the Central Bank of Malaysia, said on February 7 that the continuous
devaluation of ringgit forced the bank to consider more measures to stablise
the currency if necessary.
Muhammad Ibrahim
said new measures are only applied if they are necessary and they will not include
controlling capital and adjusting exchange rate but focus on stablising ringgit
and ensure the market’s liquidity.
Ringgit is the
currency with the deepest devaluation among emerging markets in Asia since
Donald Trump was elected as President of the United States in November 2016.
Since November
9, 2016, ringgit has lost 5.3 percent of its value against US dollar.
The measures taken
by the Central Bank of Malaysia will need from three to six months to prove
effective.-VNA