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No plan for Malaysian central bank to peg ringgit

Xinhua, August 13, 2015 Adjust font size:

Bank Negara Malaysia (BNM), Malaysia's central bank, has no plan to peg the ringgit to any other currency, said its governor Zeti Akhtar Aziz here on Thursday.

The ringgit has begun to get weak since September 2014 and registered a depreciation of 12.32 percent this year, making it one of the worst performing Asian currencies.

Zeti said that she expects volatility in the currency markets to remain until there is certainty in policy direction from major economies.

No capital control will be imposed as the country has"a more developed financial system and markets that are larger and able to absorb volatility,"she added.

Zeti also dismisses the speculations that she may resign as the governor of BNM, saying that she will remain in office until her term ends. Endi