Malaysian ringgit rises over 1% on bond inflows

[SINGAPORE] Malaysia's ringgit gained more than one per cent on Monday to near a one-week high as foreign investors bought local bonds ahead of the central bank's monetary policy meeting later this week.

The ringgit advanced as much as 1.2 per cent to 3.9850 per US dollar, its strongest since July 5.

Most the government bond prices rose, with the five-year yield at as low as 3.243 per cent, the lowest since June 2013.

Malaysia's central bank meets on Wednesday to decide its overnight policy rate.

REUTERS