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Nikkei Markets

Malaysian Ringgit To Build On Gains, Rate Hike Likely Next Year

By Mrigank Dhaniwala
Nikkei Markets
KUALA LUMPUR (Nov 20) -- The Malaysian ringgit is likely to continue its uptrend after hitting a 13-month high today as prospects for a domestic interest rate hike solidify, alongside steady economic growth.

The currency strengthened to 4.1530 against the dollar today, the highest since Oct. 26, 2016, after Malaysia reported a stronger than expected growth in the third quarter and the central bank said it is considering a review of its accommodative policy given the strength of global and domestic macroeconomic conditions.

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