Malaysia’s ringgit advanced to the strongest level in nine months against the dollar, buoyed by foreign bond inflows and a broad weakness in the US currency.
The ringgit climbed as much as 0.7% to 4.1805 per greenback, a level last seen in October. The currency has rallied in recent weeks amid signs the global trade war is easing, boosting sentiment for the export-dependent economy. Meanwhile, global funds poured $2.9 billion into Malaysia’s bonds in May, according to Bank Negara Malaysia’s latest data, the largest monthly inflow since October 2013.
