Onshore Foreign Exchange Market Records Healthy Volume - FMC

KUALA LUMPUR, Jan 18 (Bernama) -- The financial markets continue to see healthy activities with the onshore foreign exchange (FX) market recording a daily average volume of US$9.2 billion (US$1 = RM4.46) across all types of FX transactions, according to the Financial Markets Committee (FMC). The committee, which was set up by Malaysia's Central Bank (BNM) last May, said the daily average volume for onshore spot and forward market transactions, particularly for the ringgit currency pair, has been above US$2 billion, similar to the level recorded in December 2016. Transaction volume in the ringgit non-deliverable forward market too continued to shrink, it said in a statement in updating the impact of the measures laid by BNM in December 2016. The FMC comprises representatives from the central bank, financial institutions, corporations, financial service providers and other institutions, chaired by BNM Assistant Governor Adnan Zaylani. --BERNAMA