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Malaysia is working to adopt India's UPI and RuPay payment systems and is exploring the possibility of trade settlement in local currencies, while fostering closer trade and defence ties.
In an effort to remain supportive of the economy moving into 2024, Bank Negara has decided to keep its overnight policy rate (OPR) unchanged at 3%.
SINGAPORE: Investors in the Malaysian ringgit are hoping the nation’s central bank will step in to support the currency as it lingers near the weakest level since 1998.
Investors are betting South-East Asia’s central banks will turn more hawkish after Bank Indonesia (BI) unexpectedly hiked its key rate last week, with the Philippines seeing the biggest impact to expectations.