August 9, 2017 / 11:07 AM / 3 years ago

Offshore ringgit trade is against Malaysia's policy -

KUALA LUMPUR, Aug 9 (Reuters) - Malaysia’s central bank said on Wednesday the introduction of ringgit futures on the Singapore Stock Exchange and the Intercontinental Exchange and its offshore trading is inconsistent with Malaysia’s policies.

In November, Bank Negara Malaysia (BNM) stepped in to discourage ringgit trade in the non-deliverable forwards (NDF) market, as the Malaysian currency languished as Asia’s worst performer in the aftermath of Donald Trump’s U.S. presidential election win.

BNM later announced in December new measures to boost liquidity and domestic trade of the ringgit, steps that the central bank said have helped stabilise the currency.

Reporting by Emily Chow; Editing by Jacqueline Wong

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