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Ringgit jumps in offshore markets after c.bank warning

Published 14/11/2016, 02:12 pm
© Reuters.  Ringgit jumps in offshore markets after c.bank warning
KLSE
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SINGAPORE, Nov 14 (Reuters) - Malaysia's ringgit jumped on Monday in offshore markets after the central bank on Saturday said it would "re-enforce" existing rules that prohibit facilitation of offshore trading of the currency. ringgit one-month non-deliverable forward (NDF) MYR1MNDFOR= rose almost 2 percent to 4.3790 per dollar in thin liquidity.

Bank Negara Malaysia said on Saturday non-deliverable forwards were not recognised because the ringgit was not an internationalised currency.

One-month NDFs fell to their weakest in at least 12 years on Friday.

The NDFs jump on Monday compared with spot ringgit MYR=MY hitting a near 10-month low on falls in Malaysia's stocks .KLSE and bond prices 0#MYBMK= .

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