Volatility in the ringgit currency has not shaken the Malaysian central bank's belief that market forces should determine the exchange rate, and intervention should be confined to containing excessive movements, the bank's chief said.
The ringgit has fallen 1.7 per cent in the past month, but is still up more than 4 per cent since the start of the year, having been Asia's worst performing currency last year.
Speaking at an economic forum in Kuala Lumpur on Monday, Bank Negara Malaysia Governor Muhammad Ibrahim made his first public comments about the ringgit since the recent bout of volatility. The text of his remarks was made available on Tuesday.
