Forex losses were RM31 billion, ex-Bank Negara staff tells RCI

Bede Hong

FOREIGN exchange losses suffered by Bank Negara Malaysia (BNM) more than 20 years ago amounted to at least RM31 billion over a four-year period, the Royal Commission of Inquiry into the scandal was told today.

Former BNM staff Abdul Aziz Abdul Manaf told the RCI that the central bank lost RM31.516 billion from 1991 to 1994, but it was unclear how the losses were tabulated. 

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