Malaysian Ringgit Increases on US Dollar’s Weakness
The Malaysian ringgit has strengthened against the US dollar. The currency rose by 0.06% against the dollar. The Malaysian currency has been relatively stable since the beginning of the second half of 2017.
According to analysts, the ringgit is supported by stronger bond and equity yields in the country. Weak indicators in the US dollars led to a wave of profitability across the region, investors buy bonds with ringgit and undervalued stocks.
For the first half of 2017, Malaysia issued bonds worth RM 51.6 billion, which is 45% more than in the same period last year.