Malaysia's central bank says liquidity available for smooth functioning of markets
KUALA LUMPUR: Malaysia's central bank said on Friday that enough liquidity is available for financial markets to function smoothly, after the regulator's move last week to halt trading of its currency in offshore markets spooked local and global investors.
The bank said non-resident market participants such as companies, global asset and fund managers, and clearing and custodian banks continue to do transactions in financial markets.
"A number of foreign banks have begun discussing with BNM on their financial market transaction needs to facilitate smooth transition during this period, without causing market disruption," the statement said.
During the Nov 14-18 week, a total of 39.7 billion ringgit ($8.9 billion) and $49.1 billion was transacted in the Malaysian bond and foreign exchange markets, it added.
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