KUALA LUMPUR: Ongoing coordinated efforts by government-linked companies (GLCs), government-linked investment companies (GLICs), Malaysian corporates and businesses have strengthened the ringgit, Bank Negara Malaysia (BNM) said today.
Since February 26, 2024, the ringgit has been the only regional currency that has strengthened against the US dollar, gaining 0.6 per cent, it said, noting that it was discussed at the Financial Markets Committee (FMC) meeting today.
The South Korean won, Thai baht, Indonesian rupiah, Chinese yuan and Singapore dollar have declined by 1.6 per cent, 1.5 per cent, 1.4 per cent, 0.5 per cent and 0.3 per cent, respectively.
Across the same period, the average daily foreign exchange (FX) volume stood at US$17.6 billion compared to US$15.5 billion in 2023, said the central bank in a statement.