BNM intervenes after ringgit slides: analysts
Ringgit slumps 2.5% to 4.1207 against US$ before rebounding to 4.115
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Kuala Lumpur
ANALYSTS said Bank Negara Malaysia (BNM) played an active role in the currency markets on Friday as the ringgit tumbled by more than 2 per cent, in line with global markets roiled by Britain's decision to leave the European Union.
Notwithstanding the bank's support, the ringgit is projected to slip further next week, given forecasts that the sterling pound could experience bigger selloffs once the extent of Brexit sinks in.
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