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Bank Negara unable to stem ringgit's plunge against other currencies

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A market economist suggested that the central bank should allow the ringgit to trade offshore on a limited basis.

Kuala Lumpur

BANK Negara Malaysia's (BNM) intervention in the currency market may have partially checked the ringgit's fall against the US dollar, but it has not halted the beleaguered unit's headlong plunge against other major and regional currencies including the Singapore dollar.