Amid the continuing depreciation of the ringgit, the Financial Markets Committee (FMC) concurred that the current level of the ringgit is deemed undervalued.

This is particularly true as Malaysia’s economic fundamentals continue to be strong and the economic prospects are positive, it said.

The FMC was established by Bank Negara Malaysia (BNM) in May 2016 and comprises representatives from the central bank, financial institutions, corporations, financial service providers, and other institutions which have prominent roles or participation in the financial markets.

The committee convened today to...