(Bloomberg) -- Malaysia's ringgit rose for a third
day on speculation a strengthening yuan will help boost the
nation's exports to China, its fourth-largest export market.
The ringgit extended last week's gain, the biggest in more
than six months, after the yuan posted its largest advance since
a decade-old peg to the dollar was scrapped in July 2005. Bank
Negara Malaysia abandoned its own fixed-exchange rate within an
hour of that announcement. China widened the daily trading limit
of the yuan to 0.5 percent from 0.3 percent last month, allowing
faster gains to help reduce its trade surplus.
Read more at Bloomberg Bonds News
day on speculation a strengthening yuan will help boost the
nation's exports to China, its fourth-largest export market.
The ringgit extended last week's gain, the biggest in more
than six months, after the yuan posted its largest advance since
a decade-old peg to the dollar was scrapped in July 2005. Bank
Negara Malaysia abandoned its own fixed-exchange rate within an
hour of that announcement. China widened the daily trading limit
of the yuan to 0.5 percent from 0.3 percent last month, allowing
faster gains to help reduce its trade surplus.
Read more at Bloomberg Bonds News
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