Singapore dollar rises to 17-month high against Malaysian ringgit

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SINGAPORE: The Singapore dollar rose to a 17-month high against the Malaysian ringgit on Wednesday (Apr 17), as demand for the Malaysia currency ...

SINGAPORE: The Singapore dollar rose to a 17-month high against the Malaysian ringgit on Wednesday , as demand for the Malaysia currency weakened amid concerns the country's debt may be removed from a key global bond index.

FTSE Russell, a global index provider, said on Monday it could drop Malaysia from the FTSE World Government Bond Index because of concerns about market accessibility and liquidity. Phillip Capital Management senior vice-president Dr Nazri Khan Adam Khan said concerns over the potential downgrade had influenced investors' risk-appetite.Although the impact might be temporary, he expects the ringgit downtrend to prolong until the end of this week.

 

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