Ringgit rallies most in 8 weeks

Ringgit rises: 4.3730 4.3830 +0.23

Risk sentiment has waned this year on concern the slowest growth in China in more than two decades will impact the world economy, with the European Central Bank and the Bank of Japan indicating they may add to monetary stimulus due to the market turmoil. The ringgit is stabilizing this year after 2015's worst drop since the Asian financial crisis, with all eyes on Prime Minister Datuk Seri Najib Razak's budget revisions next week as the oil- exporting nation gets hit by sliding commodities.

"The cut in the statutory reserve requirement played a part in the falling swaps, which basically reflects the shift in sentiment toward a bias for some easing,” Mizuho's Varathan said. - Bloomberg