KUALA LUMPUR, March 23 The Malaysian central
bank does not have a target for what level it wants the ringgit
currency to be at, Governor Muhammad Ibrahim said on Thursday.
The ringgit is more stable following measures
introduced by the central bank in December, Muhammad said,
adding that he expects to see more dollars available in the
domestic market in coming months in the wake of those measures.
The central bank is looking at measures to allow smaller and
medium enterprises to hedge their exposure to foreign exchange
volatility, he said.
Bank Negara Malaysia said it also looking at allowing
businesses longer period for hedging to manage exposure to
ringgit volatility and manage rising cost of doing business, he
The ringgit weakened 4.3 percent against the U.S. dollar in
2016. It touched a near 19-year low of 4.496 on Jan. 4, but has
strengthened about 1.5 percent against the dollar so far this
(Reporting by Joseph Sipalan)