Is a current UK top 10 hit for Anne Marrie.
Looks like Bank Negara Malaysia, has started rising the ALARM bells, on foreign banks not willing to play ball on its restrictions imposed on trading of the Ringgit. All these is bad news for the Ringgit.
The Nikkei Asian Review, has the story. Read below :
Malaysia takes action against ringgit rate-fixing misconduct
KUALA LUMPUR (NewsRise) -- Malaysia's central bank Tuesday said it has initiated action against a financial institution for failing to promptly report a dealer's misconduct in fixing the U.S. dollar-ringgit exchange rate.
A "significant" audit finding indicates communications - including "inappropriate" references to the fixing rate submission process -- with traders from other foreign financial institutions, Bank Negara Malaysia said in a statement. The central bank didn't name the parties involved.
The move comes as Malaysia grapples with a steadily weakening ringgit that plunged to its lowest since the 1998 Asian Financial Crisis.
So far this year, the ringgit has declined nearly 4.0% against the U.S. dollar, adding to last year's 19% fall that made it the worst performing Asian currency in 2015.
