The potential for future exchange rate fluctuations for the ringgit was of concern for businesses in Malaysia
KUALA LUMPUR: Malaysia sells RM3bil (US$709mil) of 2024 bonds at auction Thursday at an average yield of 3.879%.
Demand exceeds the amount on offer by 1.6 times, according to information posted on the central bank’s website.
Lowest bid-to-cover ratio since since April 6’s offering of RM2bil 2037 bonds: data compiled by Bloomberg.
Yield on the 2024 securities little changed at 3.877% in secondary market on Thursday
.
US$/Ringgit little changed at 4.2288 after falling 0.2% on Wednesday
The ringgit continues to be BMI Research’s favorite in the region as its appreciatory trend will be supported by a stabilising political outlook, an improving fiscal position, and
its undervaluation, according to note received Oct. 4
Maintains positive outlook on ringgit, forecasts the currency will average 4.15 per dollar in 2018
Malaysia’s two biggest pension funds plan to pursue talks to buy stakes in foreign-owned insurers in the country as government enforces caps on overseas ownership. - Bloomberg
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