In a move that Bank Negara sees as a trading mechanism reflecting the actual supply and demand for the ringgit, a new fixing methodology will come into effect starting July 18.
The new methodology for the US dollar/ringgit spot fixing that the central bank worked out in collaboration with the Financial Markets Association of Malaysia (FMA) is based on market transaction data rather than submission of quotations by selected banks.
“The ringgit will be computed based on the weighted average volume of the interbank US dollar/ringgit forex spot rate transacted by domestic financial institutions between 8am and 3pm. It will be published at 3.30pm daily,” the central bank said in a statement yesterday.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
The new methodology for the US dollar/ringgit spot fixing that the central bank worked out in collaboration with the Financial Markets Association of Malaysia (FMA) is based on market transaction data rather than submission of quotations by selected banks.
“The ringgit will be computed based on the weighted average volume of the interbank US dollar/ringgit forex spot rate transacted by domestic financial institutions between 8am and 3pm. It will be published at 3.30pm daily,” the central bank said in a statement yesterday.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment