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Highlight Maybank: Ringgit should be trading at 3.3 against the US dollar

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Highlight Maybank: Ringgit should be trading at 3.3 against the US dollar Empty Highlight Maybank: Ringgit should be trading at 3.3 against the US dollar

Post by Cals Tue 31 Mar 2015, 21:51

Highlight
Maybank: Ringgit should be trading at 3.3 against the US dollar




By Yen Ne Foo / theedgemarkets.com   | March 31, 2015 : 3:04 PM MYT 

SINGAPORE: The Malaysian ringgit should be trading at 3.30 against the US dollar based on the currency's fundamentals, said [size=14]Malayan Banking Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s (Maybank) group chief executive officer Datuk Abdul Farid Alias at a press conference during the Maybank Invest ASEAN Conference 2015 here.

However, uncertainties in the market have caused volatilities in the ringgit.

"In the case of ringgit against the US dollar, taking into account the reserves that we have and the interest rates that we have right now, both spot and future, the ringgit should be trading at RM3.30 but it is not," he said.

"That is due to liquidity and fear. How long will this go on? I am not sure," he added.
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