Bank Negara takes measures to strengthen the ringgit
The second measure the Bank has taken is to limit the local or foreign investments of companies and individuals in foreign currencies, the media reports indicated. As of Monday, local companies will reportedly be allowed to invest up to RM50 million and individuals RM1 million in foreign currency in the domestic market.
The data showed that these measures proved effective as the ringgit strengthened against the US dollar in the offshore market for the first time after weeks and closed at RM4.44 yesterday evening.
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