FX VOICE: Asia's FX reserves in decline
Aug 27, 2012
FX VOICE: The ringgit's spectacular rise
The Malaysian ringgit shot up to a 21-month high against the dollar on the back of the election victory of the incumbent Barison Nasional (BN) party. What does the rally mean for Malaysia and its currency? CT asks the experts.
Dariusz Kowalczyk, economist, Credit Agricole CIB:
Following the electoral victory of the incumbent government, the ringgit surged against the US dollar. Last week, the exchange rate broke US$/MYR 3 for the first time since March 2012 and reached the strongest level since August 2011. While the currency subsequently corrected, the rate remains low.
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