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Malaysia’s PM promises to deliver some ‘liberalisation’ in the domestic FX market in the future, months after the country banned the offshore NDF market. But the lack of detail is disappointing.
Safe relaxes onshore FX settlement to encourage the use of offshore funds and tightens outbound lending in a bid to bring capital back onshore. It also clarifies reporting requirements.
The new renminbi basket has a lower weighting for the US dollar, but the new fix and spot rates against the dollar could mean greater volatility, analysts warn.