Ringgit Rises to Three-Month High as Anwar Takes Malaysia’s Helm
- Local currency rises 0.9% to be best performer in the region
- Analysts also revise upward targets on stock benchmark index
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The ringgit jumped, making the currency the best performer in Asia for a second day, following the appointment of Anwar Ibrahim as Malaysia’s new prime minister.
The ringgit rose by as much as 0.9% against the dollar to 4.4542, its strongest level since mid-August. The currency had surged by 1.8% after Anwar’s appointment on Thursday, the largest single-day gain since March 2016.