Bank Negara Malaysia said on Wednesday it will intensify measures to encourage
foreign-exchange inflows, including promoting repatriation and conversion of
corporate offshore earnings. The central bank said Malaysia's solid economic
fundamentals will continue to support the ringgit. The statement helped pare the
ringgit's losses; the currency has fallen 4.3% in June, the weakest in Asia.
Rising US rate-hike expectations have pressured EM FX, and two upcoming states
elections are raising political risk for Malaysia's currency.
