Wednesday 28 December 2016

Ringgit Malaysia. US$9 billion a month versus US$13 billion a day. Give It To Me

Is the 2007 monster hit from rapper Timbaland and Nelly Furtado.

Give it to me, the facts and figures Bank Negara Malaysia, on your self praise that you have managed to curtail the NDF Ringgit trades.

Bank Negara Malaysia said yesterday that turnover for onshore Ringgit trades improved to US$9 billion a month from US$8 billion a month.

What Bank Negara Did not tell you and me is that the daily turnover of the Ringgit NDF trades is about US$13 billion a DAY.

Neither did Bank Negara say, how its going to make the onshore market attractive enough for the NDF traders to switch over, if not it will become just like Bursa Malaysia, with very low foreign participation, creating a market with very little VALUE.