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Exporter dollar sales bolster Malaysian ringgit, analysts say

MALAYSIAN exporters are likely increasing conversions of their foreign-currency earnings into the ringgit, which stands to boost the local exchange rate through the rest of the year, analysts say.

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分析人士称,出口商美元销售额提振马来西亚林吉特。

Malaysian exporters are likely increasing conversions of their foreign-currency earnings into the ringgit, which stands to boost the local exchange rate through the rest of the year, analysts say.

Malaysia’s foreign-currency deposits fell 8.6% to RM308bil in August, the sharpest monthly decline since 2010, according to most recent central bank data. The drop indicates that exporters, benefiting from semiconductor shipments, may be converting those earnings into ringgit.

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