The Malaysian ringgit was one of Asia’s best-performing currencies this year. Can it hold its strength?

THE Malaysian ringgit was the top-performing currency in Asia earlier this year, and while it has pulled back recently, analysts say that it could either stay firm or regain some ground in the near term.

That is set to have implications for some Singapore imports relative to others, as well as benefit certain parts of the stock market in Malaysia.

The Asian currency had gone from strength to strength earlier this year due to a rebound in Malaysia’s tourism sector and economic activity, among other factors, analysts noted.