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Economy

Malaysian central bank intervenes to support ringgit

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Malaysian ringgit bank notes of different denominations   © Reuters

KUALA LUMPUR -- Malaysia's central bank has asked foreign banks in the country to refrain from trading the ringgit in offshore nondeliverable forwards as the currency continues to weaken.

In a statement on Wednesday, the central bank said it had made a request "through onshore banks that any non-resident banks which transact in the forex market to attest that they are not and will not engage in NDF-related transaction."

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