MYR (Malaysian Ringgit)

Malaysia 02 (Apr 11 - Dec 14)

Postby behappyalways » Tue Dec 09, 2014 10:27 am

Ringgit’s Retreat Unchecked as BNP Cuts Forecasts: Asean Credit
http://www.bloomberg.com/news/2014-12-0 ... redit.html
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Re: MYR

Postby winston » Tue Jan 06, 2015 8:11 pm

Putrajaya confirms asking GLCs to stop buying foreign assets

KUALA LUMPUR: The Finance Ministry has asked government-linked companies (GLCs) and statutory bodies to temporarily halt purchases of foreign assets, in response to falling commodity prices and in a bid to contain capital outflows.

The ministry confirmed that a circular signed by the treasury's secretary-general on December 26 was a move to boost domestic consumption.

In an email response to Reuters, the ministry said that the entities were "requested to give priority to domestic investment activity and postpone or put on hold, purchase of assets or investment abroad".

Malaysia is a net oil exporter. The government measure was taken at a time of prolonged weakness for the Malaysian currency, largely rooted in the tumble of oil prices.

The ringgit, the weakest emerging Asian currency in 2014, dropped to 5-1/2-year lows on Tuesday as falling crude oil prices and a strong dollar continue to add pressure on the currency.

According to the ministry, affiliated companies would need to "review their investment policies to support the government's initiative to boost the domestic economy".

Analysts say the move should help the country deal with capital outflows.

"It's not just them reducing or preventing the GLCs from investing outside. Maybe some assets could also be brought back home as well," Nomura Holdings' Southeast Asia economist Euben Paracuelles said.

Source: Reuters
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Re: MYR

Postby winston » Fri Jan 09, 2015 4:26 pm

Ringgit Heads for Asia’s Worst Weekly Loss as Reserves Decline

ringgit-heads-for-asia-s-worst-weekly-loss-as-reserves-decline
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Re: MYR

Postby winston » Fri Jan 16, 2015 10:54 pm

Malaysia has ‘moved on’ from capital controls, says central bank

Malaysia has "moved on" from using controls to manage capital flows, its central bank governor said today, signalling it would not resort to such measures amid a falling currency and slowing economic growth.

"Extreme measures such as capital controls are for extreme periods. We are certainly not experiencing such extreme conditions," Tan Sri Zeti Akhtar Aziz told Reuters.

The ringgit was Asia's weakest currency in 2014 and has also been the most under pressure in 2015, hit by Malaysia's dependence on foreign portfolio flows, budget pressures from falling oil revenues and concerns over indebted local companies.

Malaysia is able to absorb greater volatility as it has in the past few years liberalised its financial markets and enhanced its competitiveness, Zeti said.

"This is a marked contrast to the experience in the late 1990s," she added, responding to a Reuters query on whether capital controls – a measure Malaysia employed during the Asian crisis of the late 1990s to staunch capital outflows – were once again an option.

"We are now in a period when the economy has been on a steady growth path with a low level of unemployment for several years," the governor said.

Prime Minister Datuk Seri Najib Razak may seek to revise the country's budget for 2015 in a statement next week, said local media reports.


Source: Reuters
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Re: MYR

Postby behappyalways » Wed Feb 04, 2015 9:43 am

Ringgit Rallies Most Since September 2013 as Oil Extends Gain
http://www.bloomberg.com/news/articles/ ... tends-gain
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Re: MYR

Postby winston » Sun Feb 08, 2015 6:51 am

It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: MYR

Postby behappyalways » Tue Jun 09, 2015 10:18 am

Ringgit Slumps to Nine-Year Low as Funds Exit on Fed Rate Bets
http://www.bloomberg.com/news/articles/ ... -rate-bets
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Re: MYR

Postby behappyalways » Fri Jun 19, 2015 11:01 am

Weak Ringgit Makes King of Fruits a Bargain
http://www.bloomberg.com/news/articles/ ... -oil-slump
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Re: MYR

Postby behappyalways » Thu Jun 25, 2015 11:20 am

Ringgit Leads Drop in Asia on Bets Fitch Will Downgrade Malaysia
http://www.bloomberg.com/news/articles/ ... e-malaysia
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Re: MYR

Postby behappyalways » Mon Jul 06, 2015 9:47 am

Ringgit Drops to Lowest Since Dollar Peg Ended Amid Najib Probe
http://www.bloomberg.com/news/articles/ ... ed-in-2005
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