Saturday, 19 November 2016

Bank Negara Malaysia. Introducing The HARD line

According To Terence Trent D'arby is the 1987 hit funk rock album by the former boxer named Terence Trent D'arby.

Likewise, Bank Negara Malaysia, is sticking with its HARDLINE. Malaysiakini, has the story.

Read Below :

Bank Negara Malaysia (BNM) will no longer tolerate ringgit transactions in the non-deliverable forward (NDF) market and its damaging influence over the onshore pricing of the local currency, said its governor Muhammad Ibrahim.

He said that the activities in the offshore market, in particular the ringgit NDF market, had brought on observable adverse impacts on the onshore market.

"The impact of the NDF market volatility has been clearly pervasive in the onshore market and several foreign exchange (FX) traders in the domestic market were observed to be looking towards the NDF market to provide cues in determining the opening market price for the ringgit.