Gotta get some euro soon.
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http://www.btimes.com.my/Current_News/BTIM...icle/index_html
Ringgit moves toward 6-month high
2012/03/06
Malaysia’s ringgit rose toward a six-month high after data showed global funds boosted their holdings of the nation’s equities for a fifth month in February.
Overseas investors bought RM1.3 billion (US$431 million) more of the securities than they sold, according to figures published yesterday on the Kuala Lumpur stock exchange’s website. Service industries in the U.S., the world’s biggest economy, unexpectedly grew in February at the fastest pace in a year, according to a report yesterday. Signs of improvement in the global economy are spurring demand for higher-yielding assets, helping developing nations attract funds.
The ringgit strengthened 0.3 percent to 3.0115 per dollar as of 9:06 a.m. in Kuala Lumpur, according to data compiled by Bloomberg. It has gained 5.4 percent this year and touched 2.9873 on March 1, the strongest level since Sept. 9.
“We expect foreign investors to keep increasing investments in Malaysia,” said Akira Banno, a treasury adviser at Bank of Tokyo-Mitsubishi UFJ Bhd in Kuala Lumpur. “The ringgit will try to touch the 3.00 level again this week.”
Five-year government bonds advanced yesterday. The yield on the 4.262 percent notes due September 2016 fell four basis points to 3.20 percent, according to Bursa Malaysia. A basis point is 0.01 percentage point. -- Bloomberg
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