Ringgit Set for Best Week Since July After Repatriation Appeal
- CIMB sees ringgit rallying to 4.38 per dollar by year-end
- Overseas income repatriation seen to be behind ringgit rally
The Malaysian currency is poised for a 1.2% gain this week, the most since the week ended July 14.
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The ringgit is set for its best weekly gain in nearly eight months as the central bank’s efforts to shore up the currency bear fruit.
The Malaysian currency is poised for a 1.2% gain this week, the most since the week ended July 14. The currency bounced back from a 26-year low after Bank Negara Malaysia last Friday announced coordination efforts to encourage state-linked firms to repatriate and convert their overseas income.