Drop in Monday’s daily FX turnover most likely due to public holiday in US markets — BNM

KUALA LUMPUR (July 7): The drop in daily foreign exchange (FX) turnover on Monday was most likely due to the public holiday in US markets, according to Bank Negara Malaysia (BNM).

In response to queries sent by theedgemarkets, a representative from the central bank said the public holiday on Monday was because of the US’ Independence Day that fell on Sunday this year.

According to BNM’s data, Malaysia’s daily FX turnover declined to below US$6 billion on Monday for the first time since February.

The country’s daily FX turnover declined to US$5.88 billion on Monday, from US$9.81 billion a day prior.

The last time the daily FX turnover declined to below US$6 billion was US$5.37 billion on Feb 15, 2021.

Yesterday’s daily FX turnover stood at US$11.31 billion.