Credit Suisse has forecast a 6% growth in the second quarter and expects the local currency to reach RM4.10 against the dollar in the next few months. The forecast is the most optimistic, and if it comes true, then it would be the highest quarterly growth recorded by the country since the third quarter of 2014. This week, at least two other research houses have forecast an improved outlook for the ringgit and the economy. Yesterday, Standard Chartered had an overweight call on the ringgit, stating its fair value at RM4.10 against the dollar on the back of an improved economic growth of 5.4% in the second quarter.
PETALING JAYA: The ringgit is expected to improve to RM4.10 against the US dollar in the next few months and the country’s economic growth in the second quarter is said to be better than expected.
Credit Suisse has forecast a 6% growth in the second quarter and expects the local currency to reach RM4.10 against the dollar in the next few months. The forecast is the most optimistic, and if it comes true, then it would be the highest quarterly growth recorded by the country since the third quarter of 2014.
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