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Economy

Ample forex reserve, strong economy to help Malaysia's ringgit stabilize in long-term

KUALA LUMPUR (NewsRise) - Malaysia should build ample foreign exchange reserves and keep economic fundamentals strong to help stabilize the ringgit in the long-term as the currency remains vulnerable to perceived misconception about the country's excessive reliance on commodities, its central bank governor said.

The ringgit's short-term volatilities tracking news and investors' sentiments in a globally integrated financial market belies the true character and long-term prospects of the Southeast Asia's third-largest economy, Bank Negara Malaysia's Governor Muhammad Ibrahim said in a speech text posted on the central bank's website.

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