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 Rallies as Easing Syria Concern Boosts Regional Stocks

Malaysia’s ringgit had its biggest two-day advance since May as speculation the U.S. will hold back from a military attack against Syria fueled demand for emerging-market assets.

The MSCI Asia Pacific index of stocks climbed for a ninth day, the longest rally this year. Russia’s bid to get Syria to surrender its chemical weapons is a “potentially positive development” that could avert a U.S. strike, President Barack Obama said in an interview with NBC News yesterday. The ringgit dropped 6.7 percent this year and Malayan Banking Bhd. forecast in a report yesterday the weakness will boost the nation’s exports, which rebounded in July after a five-month contraction.

“A lot of currencies that have been under pressure are seeing some of the selling abating,” said Nick Verdi, a foreign-exchange strategist at Barclays Plc in Singapore. “There’s more positive risk appetite generally.”

The ringgit strengthened 0.4 percent to 3.277 per dollar as of 4:19 p.m. in Kuala Lumpur, according to data compiled by Bloomberg. It climbed 1.5 percent in two days. One-month implied volatility, a measure of expected moves in the exchange rate used to price options, fell 30 basis points to 9.6 percent.

A government report tomorrow may show factory output rose 4.9 percent in July from a year earlier, after climbing 3.3 percent in June, according to the median estimate of economists surveyed by Bloomberg.

The “immediate” export outlook for August is “positive” amid a competitiveness boost from the weaker ringgit and improving commodity prices, according to the Maybank report, whose authors included Suhaimi Ilias, the Kuala Lumpur-based chief economist. The lender expects economic growth to quicken to 4.8 percent in the second half from 4.2 percent in the first six months.

Government bonds advanced. The yield on the 3.26 percent notes due March 2018 dropped one basis point, or 0.01 percentage point, to 3.59 percent, according to data compiled by Bloomberg.

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.