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Featured and Exclusive, Markets  |  JANUARY 29, 2016 8:34AM

Ringgit hits 3-1/2-month high on oil, BOJ

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Ringgit MalaysiaThe Malaysian ringgit jumped 2% on Friday to hit a three-and-a-half-month high as crude prices extended gains, easing concerns over the country’s falling oil and gas prices.

The currency also found support as the Bank of Japan unexpectedly cut a benchmark interest rate below zero, helping investors seek higher yields.

The ringgit strengthened to as much as 4.1230 per US dollar, its strongest since Oct 15.

The government’s 10-year bond prices rose with the yield down to 3.857%, the lowest since May 6, 2015.

Malaysia is a major supplier of palm oil and natural liquefied gas.



 
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