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

Ringgit Strengthens Most in a Month as Losses Deemed Excessive

Malaysia’s ringgit advanced the most in a month as recent losses were judged excessive, and on signs the U.S. economy is improving.

The ringgit fell the most against the dollar in 16 months last week on speculation Prime Minister Najib Razak will call an early election that may weaken the coalition’s grip on power. The greenback’s 14-day relative strength index reached 66 today, approaching the 70 threshold level that suggests it may decline. The U.S. Institute for Supply Management’s manufacturing index rose to a nine-month high of 53.1 in January, beating all estimates in a Bloomberg survey of 86 economists, official data showed Feb. 1.

“The ringgit is seeing a technical rebound because it was oversold last week on election concerns,” said Saktiandi Supaat, head of foreign-exchange research at Malayan Banking Bhd. in Singapore. “Asian currencies are seeing some improvement as the U.S. ISM Manufacturing Index is showing signs of expansion.”

The ringgit advanced 0.6 percent to 3.0996 per dollar as of 4:22 p.m. in Kuala Lumpur, according to data compiled by Bloomberg. That is the biggest increase since Jan. 2. The currency dropped 2.3 percent last week, the most since Sept. 23, 2011. One-month implied volatility, a measure of expected moves in the exchange rate used to price options, slid ten basis points, or 0.1 percentage point, to 7.9 percent.

Malaysia’s central bank held its benchmark interest rate at 3 percent on Jan. 31, a decision predicted by all 22 economists surveyed by Bloomberg News. The monetary authority last changed the rate in May 2011.

Government bonds were steady with the yield on the 3.418 percent bonds maturing in August 2022 holding at 3.52 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.