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Malaysia asks foreign banks to stop trading offshore ringgit NDFs

Bank Negara has said that the ringgit is a non-internationalised currency and thus trading it in the overseas non-deliverable forwards (NDFs) markets is not recognised.

Hong Kong

FOREIGN banks have been asked to make a written commitment to Malaysia's central bank to stop trading the ringgit in the offshore non-deliverable forwards (NDF) market in the bank's latest move to protect a weakening currency, banking sources said.

Foreign banks have been...

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