Malaysian central bank chief: Ringgit is not reflecting fair value

Kuala Lumpur

MALAYSIA's central bank governor has said that the nation's currency is far from reflecting its fair value, signalling a desire for the exchange rate to build on its recovery from a sharp selloff last year.

The ringgit is now trading at its highest in over a year against the dollar, after a torrid 2016, when it ranked among Asia's worst-performing currencies. Like some other emerging market currencies, it took a hit after Donald Trump won the US presidential race.