Local currency forecast at RM4-RM4.10 against US dollar

Undervalued: StanChart’s Asean and South Asia FX research head Divya Devesh says the ringgit has been undervalued for years despite Malaysia’s strong economic fundamentals.

PETALING JAYA: After more than two years of decline against the US dollar, the ringgit is expected to strengthen to between RM4 and RM4.10 against the greenback this year, according to Standard Chartered.

The bank’s head of Asean and South Asia FX research Divya Devesh said that the ringgit has been undervalued for years despite Malaysia’s strong economic fundamentals.