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Foreign banks shaken by Malaysia’s move to halt currency slide

Posted on 18 November 2016

Foreign banks in Malaysia on Thursday were trying to work out how to comply with the central bank’s clamp-down on offshore ringgit trading, a move the broader market views as a form of capital controls.
Form letters, sent this week from onshore banks to their offshore counterparts, asked compliance officers to sign commitments to cease trading the ringgit in the NDF markets and then send the letters back to Bank Negara, Reuters reported on Wednesday……………………………………..Full Article: Source


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