KONTAN.CO.ID - KUALA LUMPUR, March 16 (Reuters) - Malaysia's central bank said on Saturday that Google had misquoted the ringgit's exchange rate, undervaluing the currency against the dollar, and that it would seek an explanation from the tech giant. The ringgit, which declined to a 26-year low last month, has weakened about 2.44% this year. Bank Negara Malaysia (BNM) has said the currency is undervalued and does not reflect Malaysia's positive economic fundamentals. The bank said in a statement that Alphabet Inc's Google GOOGL.O published "inaccurate" information on Friday and had also done so on Feb. 6.
Malaysia Central Bank Says Google Misquoted Exchange Rate a Second Time
KONTAN.CO.ID - KUALA LUMPUR, March 16 (Reuters) - Malaysia's central bank said on Saturday that Google had misquoted the ringgit's exchange rate, undervaluing the currency against the dollar, and that it would seek an explanation from the tech giant. The ringgit, which declined to a 26-year low last month, has weakened about 2.44% this year. Bank Negara Malaysia (BNM) has said the currency is undervalued and does not reflect Malaysia's positive economic fundamentals. The bank said in a statement that Alphabet Inc's Google GOOGL.O published "inaccurate" information on Friday and had also done so on Feb. 6.