Malaysia on Brink of Intervention as Ringgit Nears Threshold
- Government committed to strengthening the ringgit’s position
- Central bank may intervene around 4.8 per dollar: State Street
Malaysia’s depreciating currency is set to raise prices of goods and services, posing challenges for authorities as they contemplate their next monetary policy move.
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Malaysia’s central bank is “always ready” to curb the ringgit’s volatility, a senior finance official said, as investors eye a key threshold in the currency that may warrant a stronger intervention.
Bank Negara Malaysia is prepared to sell US dollars from its reserves to “restrict excessive weakness in the ringgit,” Amir Hamzah Azizan, the nation’s second finance minister, said Thursday.