Malaysia takes action as ringgit plunges, Business News & Top Stories

HONG KONG • The central bank of Malaysia is asking foreign banks for a written commitment to refrain from trading the ringgit in the offshore non-deliverable forwards (NDFs) market in its latest move to protect a weakening currency, banking sources said.

The central bank has sent a form letter to foreign banks which asks for an “unconditional representation and commitment” to stop trading in any offshore Malaysian ringgit non-deliverable forwards or offshore derivatives.

Read more @The Straits Times…