Rupee, Ringgit to Lead Losses This Quarter, Top Forecaster Says

India’s rupee and Malaysia’s ringgit will lead declines in Asian currencies this quarter as the global slowdown damps export demand, according to Oversea-Chinese Banking Corp., the most-accurate forecaster.

The rupee and the ringgit, which led gains in the three months through September, will drop 2.5 percent and 2.2 percent against the dollar, respectively, by year-end, said OCBC, which had the closest estimates in the last six quarters as measured by Bloomberg Rankings. Westpac Banking Corp., the second-best, predicts Taiwan’s dollar will weaken the most with a loss of 1.9 percent. The two banks expect all of the eight most-traded Asian emerging-market currencies to decline.