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Speculative trading ended after 1990s forex losses: Former BNM governor

Mimi Sabreena 3:39:00 PM Informasi

PUTRAJAYA (Sept 7): Speculative trading in foreign exchange (forex) was put to an end, following billions lost in trading in the 1990s, said former Bank Negara Malaysia (BNM) governor Tan Sri Ahmad Don.

"When I took over as governor in May 1994, I sent a letter to then Deputy Prime Minister Datuk Seri Anwar Ibrahim, telling him (that), based on the bank staff and reserve management committee's morale. According to the reserve management, there would be no purely speculative trading (to preserve reserves).

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