BNM confirms forex intervention but says no to capital controls

Kuala Lumpur

AS the Malaysian ringgit slipped past 4.40 to the US dollar on Friday amid the greenback's surge, Malaysia's central bank confirmed its intervention in the currency market. It gave no details but stressed that capital controls were off the table.

Bank Negara Malaysia (BNM) assistant governor Adnan Zaylani reiterated that Putrajaya had no plans to revisit capital controls and that talk of this was "baseless".

Bloomberg reported that he said it would be too damaging and risky to take such an action, but that he said "yes" when asked by rep…