Malaysia retail sales sputter amid steadier but still weak ringgit

Kuala Lumpur

THE Malaysian central bank will continue to support the ringgit, Prime Minister Najib Razak said on Monday, even as retailers brace for another year of insipid growth because of the meagre currency.

Mr Najib said in Parliament that the ringgit had become significantly more stable since Bank Negara took steps to contain volatility two months ago. Also the finance minister, he indicated Malaysia's international reserves of US$95 billion as at end February would be used to temper large currency swings if needed.