Fitch maintained Malaysia's long-term foreign currency issuer default rating (IDR) at A- and local currency at A, with the outlook revised to stable from negative previously. Fitch said in a statement that Malaysia's fiscal finances have improved and views progress on the Goods and Services Tax (GST) and fuel subsidy reform as supportive of the fiscal finances. (Forex trader holds ringgit and US$. - Filepic)
SINGAPORE: The Malaysian ringgit led gains among emerging Asian currencies on Wednesday as Fitch Ratings maintained the country's sovereign ratings, erasing concerns that it might cut them because of state fund 1MDB's debt problems.
The South Korean won bucked the regional trend of appreciation as exports fell for a sixth straight month in June.
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