KUALA LUMPUR: Malaysia’s ringgit rose to the strongest level in almost seven months as reports on Chinese shipments and US employment brightened the export outlook.
The ringgit led an advance in Asian currencies after China, Malaysia’s second biggest overseas market, said on Sunday that exports increased 7% last month. That was the most since January and beat the median estimate of economists surveyed by Bloomberg for a 6.7% gain. American employers added 217,000 jobs in May, the fourth month in a row employment has increased by more than 200,000, according to a June 6 report.