KUALA LUMPUR: There will not be any exodus of funds from Malaysia, says Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.

Despite the ringgit's fall, Malaysia's current account surplus was healthy while foreign direct investments continued to flow into the economy.

Zeti said this phenomenon included fluctuations in the foreign exchange market which was not unique to Malaysia.

Developed financial markets such as Malaysia would be subject to volatile capital flows and Malaysia had experienced all this before, she said.

"In fact, the more developed your financial markets, the more susceptible you will be to the volatile inflows and we have progressively liberalised our markets.

"Therefore, financial markets are highly open and vulnerable to external developments," she told reporters on the sidelines after Prime Minister Datuk Seri Najib Tun Razak unveiled proactive measures to keep the economy on track.

Zeti said Malaysia's overnight policy rate of 3.25 per cent was highly accommodative and that there was no need to further lower interest rates.

Najib, who is also Finance Minister, announced a number of measures to ensure Malaysia's growth, development and deficit ambitions remained intact in response to changes in the global economic landscape.

In his special address, the Prime Minister said fluctuations in the ringgit were influenced by developments in the global economy.

He said the ringgit was not the only currency to have weakened against the US dollar but almost all currencies in the region had softened against the greenback since September 2014.

The Governor also said Malaysia's reserves had declined by about US$19 billion since 2014.

Nonetheless, Zeti said the Goods and Services Tax was a pre-emptive measure that would strengthen Malaysia's finances and economic fundamentals.

Malaysia will implement the new tax regime on April 1.

Zeti also reaffirmed that Malaysia's economic growth was on a steady growth path and that the country would be able to achieve a Gross Domestic Product of between 4.5 per cent and 5.5 per cent in 2015 as announced by the Prime Minister.

She also stressed that Malaysia had never relied on the exchange rate to gain competitiveness.

"Our advice especially to exporters is never to rely on the current level of the exchange rate because this, we believe, only reflects temporary conditions that are prevailing.

"The ringgit should strengthen to reflect our underlying fundamentals which remains solid and strong," she added. -- BERNAMA