Malaysia's ringgit strengthens by 0.8% in March due to central bank measures and strong exports.

Malaysia's ringgit has been one of the top-performing currencies in emerging Asia, strengthening by 0.8% in March due to central bank measures encouraging state-linked firms to repatriate and convert foreign earnings. Improving exports and stable inflation rates also contribute to positive bond performance. As a result, Malaysia's local-currency sovereign bonds have returned 1.1% to dollar-based investors this month, compared to a 0.2% gain for emerging Asian debt as a whole.

March 18, 2024
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