FOREX RCI | A former auditor with the Auditor-General's Office revealed today that he questioned the legality of Bank Negara's foreign exchange (forex) activities in the early 1990s.

P Kanason, who conducted an audit of the central bank, told the Royal Commission of Inquiry (RCI) that the activities conducted by Bank Negara at the time did not comply with provisions of the Central Bank Malaysia Act.

Citing the audit point of view, the former auditor said buying and selling of foreign currencies daily in millions of ringgit is trading...