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FOREIGN EXCHANGE | Cesar Tordesillas, Malaysia

Royal Bank Of Scotland Bullish On Malaysian Ringgit

The Royal Bank of Scotland plc (RBS) is bullish over the Malaysian ringgit, with the local currency projected to move within the 3.05-3.02 range to the US dollar this year.

This is based on Malaysia's stable monetary policy and the ringgit's low correlation to the euro.

RBS Managing Director, Head of Research and Strategy, Asia ex-Japan, Chia Woon Khien, said the ringgit was more resilient to a global risk sell-off.

She said the ringgit also remained cheap on a trade-weighted basis, with its real effective exchange rate weakened 3.7 per cent last year, leaving the currency severely undervalued.

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