Is a hit last year for DJ Calvin Harris, taken from the album motion.
Bank Negara Malaysia, must have taken more than a couple of esctasy pills, for petting itself on its own back, for claiming that it has managed to stifle the offshore NDF market.
The measure only hurts exporters, with a extra forex cost burden, and has not helped the Ringgit, which slipped further to 4.48 against the US, despite soaring oil prices.
Anyway, this is Bank Negara Malaysia's story, as written by Reuters. Read Below :
Bank Negara said on Wednesday the "disruptive influence" from the non-deliverable forward (NDF) market on the ringgit has subsided, making a success of its efforts to stifle the offshore market.
Last month, the central bank began trying to force currency traders overseas to stop driving the ringgit lower and demanded that banks sign a commitment to cease trading the ringgit on the offshore NDF market.
Bank Negara also said it would implement several measures to boost onshore ringgit trade.
Liquidity on the onshore foreign exchange market registered a daily average volume of around US$9 billion this month, compared to a monthly average of US$8 billion in the previous 11 months, Bank Negara said in a statement on Wednesday.
"FX flows comprise supply and demand from all major participants, including the exporters/importers, portfolio related and direct investments," the central bank said
