Ringgit undervalued by 28%: Mobius

Kuala Lumpur

FRANKLIN Templeton's Mark Mobius said on Tuesday that Malaysia's currency is undervalued by 28 per cent, which makes the country an attractive prospect for investors looking at South-east Asian economies.

The ringgit was Asia's worst performing currency last year when it lost 18.5 per cent to the dollar. It has since strengthened 4.0 per cent this year with the return of foreign capital to ringgit bonds.