Published: 2010/09/15
Foreign investors clearly favour any move to further liberalise the ringgit as seen by their interest in the stock market in recent weeks, said Bursa Malaysia Bhd's chief.
"Based on the feedback that we've received from the increase in volume in recent weeks, especially by foreign investors, it would appear to be linked to the strengthening of the ringgit, as well as some of the measures that were recently announced by Bank Negara Malaysia about increased tradability of the ringgit for trading purposes.
"So we believe the foreign investor community would view any further liberalisation in the ringgit convertibility as positive," chief executive officer Datuk Yusli Mohamed Yusoff said yesterday, when asked for his views on Malaysia potentially allowing the ringgit to be traded offshore.
Prime Minister Datuk Seri Najib Razak had said, in an interview with CNBC on Saturday, that the government is open to allowing the move if it could help boost the economy.
Separately, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said one of the negative perceptions that outsiders have of Malaysia is that it still very much controls the currency despite recent liberalisation moves.
This may have contributed to Malaysia slipping two notches down on the World Economic Forum's (WEF) Global Competitiveness Report for 2010-2011, to the 26th spot out of 139 countries.
"The government's move to enable settlements in ringgit for example, was welcomed by many. So further liberalisation would only be positive," Mustapa told reporters at a separate event yesterday.
The ringgit, which rose to a 13-year high of 3.10 against the US dollar on Monday, closed slightly lower at RM3.104 yesterday.
Read more: Foreign investors favour further ringgit liberalisation http://www.btimes.com.my/Current_News/BTIMES/articles/burd2/Article/#ixzz0zmTx4j00
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"So we believe the foreign investor community would view any further liberalisation in the ringgit convertibility as positive," chief executive officer Datuk Yusli Mohamed Yusoff said yesterday, when asked for his views on Malaysia potentially allowing the ringgit to be traded offshore.
Prime Minister Datuk Seri Najib Razak had said, in an interview with CNBC on Saturday, that the government is open to allowing the move if it could help boost the economy.
Separately, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said one of the negative perceptions that outsiders have of Malaysia is that it still very much controls the currency despite recent liberalisation moves.
This may have contributed to Malaysia slipping two notches down on the World Economic Forum's (WEF) Global Competitiveness Report for 2010-2011, to the 26th spot out of 139 countries.
"The government's move to enable settlements in ringgit for example, was welcomed by many. So further liberalisation would only be positive," Mustapa told reporters at a separate event yesterday.
The ringgit, which rose to a 13-year high of 3.10 against the US dollar on Monday, closed slightly lower at RM3.104 yesterday.
Read more: Foreign investors favour further ringgit liberalisation http://www.btimes.com.my/Current_News/BTIMES/articles/burd2/Article/#ixzz0zmTx4j00
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