Malaysia Central Bank tells banks to use local FX reference rate

Admin/ January 30, 2015/ Latest News

Jan 29 (Reuters) – Malaysia’s central bank said it has told domestic banks they must use a reference rate produced by the country’s foreign exchange association for ringgit foreign exchange contracts. The central bank’s directive would exclude use of a Singapore-based fixing that is currently used by many traders in the market. The directive was sent to heads of banks

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