KUALA LUMPUR : Malaysia's central bank will launch an alternative to its interbank benchmark rates that will offer market participants more flexibility and hedging options, it said on Friday.
The MYOR rate will be periodically reviewed to ensure that"the financial benchmark rates remain robust and reflective of an active underlying market," it said. The new rate will be administered and calculated by the central bank as the volume-weighted average rate of unsecured overnight ringgit interbank transactions, including the bank's overnight monetary operations.
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