NOT GOOD TIME TO INTERNATIONALISE RINGGIT, SAYS BANK GOVERNOR

KUALA LUMPUR, March 26 (Bernama) -- Malaysia's Central Bank has no intention
to internationalise the ringgit in the near future, its governor Dr Zeti Akhtar
Aziz said Thursday.

"We have said many times that this will only happen when we have a more
developed foreign exchange market such as larger volumes and other instruments
for hedging in the market before we internationalise the currency," she said.

"Bank Negara will certainly not take such measures now, especially with the
current unstable global financial environment," she told reporters after
unveiling the central bank's 2008 annual report here.

Asked about Bank Negara's currency swap agreement with China, Zeti said it
was to facilitate trade between China and Malaysia, which has not been very
significant.

China is now Malaysia's sixth largest trading partner, she said, adding that
the agreement was in reminbi and not US dollar.
-- BERNAMA