KUALA LUMPUR – Malaysia's central bank said on Tuesday it will intervene in the foreign exchange market to stabilize the ringgit currency, citing what it called 'excessive' recent losses. The ringgit is trading near a seven-month low and has lost close to 6 percent of its value against the U.S. dollar this year, declining more than its peers in Southeast Asia. Bank Negara Malaysia said the extent of the ringgit's depreciation was not reflective of economic fundamentals, and that recent volatility was also disproportionately higher than historic movements.

https://business.inquirer.net/407412/malaysia-central-bank-to-intervene-in-fx-markets-as-ringgit-losses-excessive

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