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Malaysia’s central bank says no plans for capital controls, ringgit re-pegging IV News

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KUALA LUMPUR: Malaysia will not resort to capital controls or re-pegging the ringgit and currency levels will continue to be determined by the market, the central bank said on Friday.

Ringgit is down nearly 9% this year, hitting a 24-year low this week.

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Governor Nor Shamsia Mohamed Yunus said in a statement, “Instead of resorting to capital controls or reconnecting the Ringgit, the policy priority now is to maintain economic growth in an environment of price stability and to further improve domestic economic fundamentals through structural reforms.” have to be strengthened.” Statement.

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“It will provide a more lasting support for Ringgit,” she said.

The central bank also said it would continue to closely monitor and ensure financial market conditions amid the strengthening of the US dollar.

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