The governor of the Central Bank of Malaysia said that the local currency “ringgit” is undervalued, adding that it should be strengthened to reflect the economic fundamentals.
Bloomberg reported that Abdul Rashid Abdul Ghafoor, who took over as governor of the central bank on July 1, said that the central bank will intervene to prevent excessive volatility and ensure the regularity of market conditions.
He explained that external global conditions affect the performance of the local currency, while the interest rate in Malaysia is among the lowest in the region due to the gradual steps taken by the central bank.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 