How did Malaysia's central bank manage to simultaneously meddle in markets to support its currency and increase its foreign exchange reserves? Malaysia's central bank, Bank Negara Malaysia BNMsaid last week it was forex in the market to support the ringgit, which was particularly hard hit in the "Trump tantrum" of emerging market fund bank in the wake of Donald Trump's surprise U. That intervention should have showed up in the country's foreign-exchange reserves as a decline because the central bank would usually need to sell foreign currencies to purchase ringgit. Instead, the central bank said on Malaysia that its international reserves amounted forex That compared with the The swap arrangement allows the two central banks to provide liquidity in each other's currencies, primarily aimed at supporting trade negara investment. Daw noted that Malaysia has "significant resources" to manage any stress from outflows, such as the PBOC swap line, a Chang Mai swap line and IMF rates facilities. But he added that "sentiment has been damaged and the ringgit should remain on edge. For the ringgitthe trend since forex U. By Thursday, dollar climbed as much as 6. Sentiment on bank ringgit was also hurt by the central bank's warning to foreign banks to restrict trading in offshore non-deliverable negara NDFs on the currency, which have fallen further than the spot rate. While that moved appeared to be only a reinforcement of forex regulations, it spooked traders. For its part, BNM appeared malaysia stand behind its figures. In an emailed response on Friday rates an earlier request for comment, it said, "As clearly indicated in the statement released on 22 Novemberthe international reserves position of Bank Negara Malaysia as at 15 November negara transactions that transpired throughout the first half of the month. The fortnightly international reserves position is compiled consistently and strictly in accordance to the standards prescribed by the International Monetary Fund. Julian Wee, a senior markets strategist for Asia at National Australia Bank, noted via email on Bank that BNM announced its intervention on Nov. The November data suggests that they were not bank dollars, given that valuation effects might even have been negative," he said, noting that the dollar index, which measures the greenback against a basket of currencies, climbed during that period. Wee noted that the ringgit's status as the worst performer among emerging Asia currencies suggested that the BNM undertook a "deliberate policy decision" to conserve its foreign-exchange reserves. Com's Leslie Shaffer; Follow her on Twitter Bank. Follow CNBC International on Twitter rates Facebook. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener Tech Mobile Social Media Enterprise Gaming Forex Tech Guide Make It Entrepreneurs Leadership Careers Money Specials Shows Video Top Video Latest Video U. Video Asia Video Europe Video CEO Interviews Analyst Interviews Full Episodes Negara Watch Live CNBC U. Bank Day CNBC U. Primetime CNBC Asia-Pacific CNBC Europe CNBC World Full Episodes. Log In Register Log Out News Economy Finance Health Care Real Estate Wealth Autos Consumer Earnings Energy Life Media Politics Retail Commentary Special Reports Asia Europe CFO Council. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs. Make It Entrepreneurs Leadership Careers Money Specials Shows Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Malaysia Screener. Tech Mobile Social Media Enterprise Gaming Cybersecurity Rates Guide Malaysia Top Video Latest Video Negara. Video Asia Video Europe Video CEO Interviews Analyst Interviews Full Episodes. Primetime CNBC Asia-Pacific CNBC Europe CNBC World Special Reports Top States Paris Airshow Dalian - World Economic Malaysia Trailblazers Trading the World CNBC Disruptor 50 Lasting Legacy Modern Medicine College Game Plan Investing in: Israel Tech Rates The Brave Ones Trading Nation Shaping the future Future Opportunities. Register Log In Profile Email Preferences Rates Sign Out. Americas Negara Asia-FX EU-FX. Malaysia malaysia bank shows higher forex reserves despite ringgit support Leslie Shaffer LeslieShaffer1. Mareen Fischinger Forex Getty Images. Com's Leslie Shaffer; Follow her on Twitter LeslieShaffer1 Follow CNBC International on Twitter and Facebook. Leslie Shaffer Senior Writer.
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