{"id":28362,"date":"2017-02-10T17:36:55","date_gmt":"2017-02-10T09:36:55","guid":{"rendered":"http:\/\/www.imoney.my\/articles\/?p=28362"},"modified":"2017-02-10T17:36:55","modified_gmt":"2017-02-10T09:36:55","slug":"ringgit-crackdown-deters-foreign-investors","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/ringgit-crackdown-deters-foreign-investors","title":{"rendered":"Ringgit Crackdown Deters Foreign Investors"},"content":{"rendered":"<p>Malaysia\u2019s crackdown on currency speculators threatens to discourage overseas investors, says Macquarie Bank.<\/p>\n<p>While agreeing that the tightening measures have reduced ringgit volatility, it said Bank Negara Malaysia\u2019s (BNM) steps to curb trading in offshore non-deliverable forwards (NDF) last year made it harder for global funds to hedge their exposure to Malaysia.<\/p>\n<p>According to BNM data, global funds cut holdings of Malaysian debt by a combined RM25.2 billion (US$5.7 billion) in November and December, the biggest two months of outflows since 2008.<\/p>\n<p>BNM cracked down on NDF trading due to the difference between onshore and forward prices for the ringgit which jumped to a record in November last year.<\/p>\n<p>Since then, the ringgit slid to the weakest since 1998, even as oil prices stabilised, but the central bank dismissed speculation it was about to impose capital controls.<\/p>\n<p>Malaysia\u2019s economy is undergoing a turbulent period due to plummeting oil prices, which foreign exchange executives believe is the primary macro problem affecting the ringgit.<\/p>\n<p><a href=\"http:\/\/www.thestar.com.my\/business\/business-news\/2017\/02\/07\/ringgit-crackdown-saps-volatility-deters-investors\/\" target=\"_blank\" rel=\"nofollow\"><em>[Source]<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More bad news?<\/p>\n","protected":false},"author":29,"featured_media":27667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216,284],"tags":[],"class_list":["post-28362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","category-ringgit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Macquarie Bank Believes BNM Measures Spooked Foreign Investors<\/title>\n<meta name=\"description\" content=\"Since Bank Negara Malaysia introduced tightening measures, the ringgit has lost its allure among foreign investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/ringgit-crackdown-deters-foreign-investors\" 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