The potential return of foreign funds to emerging markets will boost the local currency, it argues.
PETALING JAYA: MIDF Research remains steadfast with its optimistic projection that the ringgit will strengthen to RM4.30 against the US dollar by year-end.
Furthermore, MIDF noted positive indicators on external trade performance in the coming months, based on recent signs of China’s economic recovery and increased electrical and electronics exports. It dropped to its 25-year low on Oct 19 at 4.7635 per dollar. The local note had since climbed slightly to close at 4.7335 last Friday.
“Our quantitative analysis via six key variables suggests that MYR will benefit from an improved Malaysia-centric interest rate, trade and fiscal matrix, while dragged by potentially lower oil prices and higher public debt,” it said.
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