BNM: Malaysia’s daily forex turnover below US$10b for first time since Feb 15

KUALA LUMPUR (April 5): Malaysia’s daily foreign exchange (forex) turnover fell to US$7.72 billion (about RM31.97 billion) last Friday, from US$11.99 billion a day earlier, the first time the nation’s daily forex transaction value dropped below US$10 billion since Feb 15, 2021, according to the latest updates on Bank Negara Malaysia’s (BNM) website.

The central bank did not specify the reasons behind the drop in the country’s forex turnover last Friday, which coincided with the Good Friday holiday, during which certain markets including those in Hong Kong and the US were closed.

On Feb 10, 2021, the country’s forex turnover stood at US$11.53 billion, followed by US$7.53 billion and US$5.37 billion on Feb 11 and 15 respectively, according to BNM.

The central bank’s daily forex turnover data dates as far back to 2016.

On Dec 30, 2016, Malaysia’s daily forex turnover stood at US$9.6 billion, followed by US$8.03 billion on Jan 3, 2017, according to BNM.

Source: TheEdgeMarkets