- BernamaAdverse conditions brought on by the NDF marketActivities in the offshore market, in particular the ringgit non-deliverable forward (NDF) market, had brought on observable adverse impacts to the onshore market. As a consequence of such speculative activities, the ringgit fixing rate has significantly diverged from the onshore traded ringgit prices. The impact of NDF market volatility has been clearly pervasive in the onshore market. Several FX traders in the domestic market were observed to be looking towards the NDF market to provide cues in determining the opening market price for ringgit. Prompt supervisory intervention will be taken against any individuals and banking institutions that are found to facilitate NDF market activities.

Source: The Star November 19, 2016 16:54 UTC