Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Ringgit Drops as Central Bank Forecasts Slower Economic Growth

Malaysia’s ringgit fell toward its weakest level in almost two months after the central bank forecast slower economic growth.

Southeast Asia’s third-biggest economy may expand 4 percent to 5 percent in 2012, the monetary authority said yesterday. That is less than the Finance Ministry’s 5 percent-to-6 percent predicted in October, and a 5.1 percent pace in 2011.

“The lower GDP target raises the possibility of a rate cut,” said Akira Banno, a treasury adviser at Bank of Tokyo-Mitsubishi UFJ Bhd. in Kuala Lumpur. “This will make the ringgit less attractive to investors.”

The ringgit declined 0.1 percent to 3.0800 per dollar as of 4:00 p.m. in Kuala Lumpur, according to data compiled by Bloomberg. It touched 3.0890 yesterday, the weakest level since Jan 24.

One-month implied volatility, a measure of exchange-rate swings used to price options, fell eight basis points, or 0.08 percentage point, to 7.70 percent.

Five-year government bonds rose. The yield on the 4.262 percent notes due September 2016 fell seven basis points to 3.27 percent, according to Bursa Malaysia.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.