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Malaysia has "moved on" from capital controls: central bank

[KUALA LUMPUR] Malaysia's central bank said on Friday it had "moved on" from the use of controls to manage capital flows.

"Malaysia has moved on from the reliance on controls to manage capital flows," the central bank said in a statement to Reuters.

"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," said the central bank.

Malaysia's economy is facing a challenging year amidst pressure from a weakening currency and falling oil prices.

"Extreme measures such as capital controls are for extreme periods. We are certainly not experiencing such extreme conditions," it said.

REUTERS