Top Malaysian banker sees ringgit rebound
Currency has lost about 22% since the start of 2015 and is worst-performing in emerging Asia
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Kuala Lumpur
MALAYSIA'S ringgit is set to rebound from a 19-year low as official measures to boost demand for the currency kick in, according to a top banker and member of the central bank's financial markets committee.
An appreciation of the ringgit can happen very quickly, said Lee Kok Kwan, who is also president of the Financial Markets Association of Malaysia and a director at lender CIMB Group Holdings Bhd. He pointed to three such periods of gains in the past 15 months, including one when the currency surged as much as 7.4 per cent in a space of a week.
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