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Economy

Malaysia central bank to takes more steps if needed to steady ringgit

KUALA LUMPUR (NewsRise) - Malaysia will take more steps, if needed, to further reinforce its existing policy to stabilise the ringgit even as recent measures have helped ease volatilities in the foreign exchange market, its central bank chief said Friday.

Ruling out capital control and a move to peg the ringgit to a fixed value as potential policy steps, Bank Negara Malaysia's Governor Muhammad Ibrahim said future measures will be aimed at ensuring liquidity and adequate supply of both the ringgit and the U.S. dollar in the foreign exchange market.

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