source: http://www.bloomberg.com/news/2012-08-15/malaysia-s-ringgit-declines-ahead-of-economic-data-correct-.html
Malaysia’s ringgit fell before time of GDP data release data forecast to show Southeast Asia’s third-largest economy grew at the slowest pace in a year. Malaysia’s inflation rate is forecast to stay at the lowest level in two years.
Gross domestic product increased 4.6 percent in the second quarter from a year earlier, compared with 4.7 percent in the previous three months, according to median estimate of economists in a Bloomberg News survey before an official report due at 5 p.m. local time. Consumer prices rose 1.6 percent in July, unchanged from June, a separate survey showed.
The ringgit declined 0.1 percent to 3.1226 per dollar as of 8:56 a.m. in Kuala Lumpur, according to data compiled by Bloomberg. One-month implied volatility, a measure of exchange- rate swings used to price options, dropped 10 basis points, or 0.1 percentage point, to 6.22 percent, the lowest since July 18.
The currency will be cushioned against external weakness by Malaysia’s current-account surplus, Credit Agricole CIB said in a report today. The surplus as a percentage of GDP is the second-largest in Asia, according to the report.
Malaysia’s ringgit fell before time of GDP data release data forecast to show Southeast Asia’s third-largest economy grew at the slowest pace in a year. Malaysia’s inflation rate is forecast to stay at the lowest level in two years.
Gross domestic product increased 4.6 percent in the second quarter from a year earlier, compared with 4.7 percent in the previous three months, according to median estimate of economists in a Bloomberg News survey before an official report due at 5 p.m. local time. Consumer prices rose 1.6 percent in July, unchanged from June, a separate survey showed.
The ringgit declined 0.1 percent to 3.1226 per dollar as of 8:56 a.m. in Kuala Lumpur, according to data compiled by Bloomberg. One-month implied volatility, a measure of exchange- rate swings used to price options, dropped 10 basis points, or 0.1 percentage point, to 6.22 percent, the lowest since July 18.
The currency will be cushioned against external weakness by Malaysia’s current-account surplus, Credit Agricole CIB said in a report today. The surplus as a percentage of GDP is the second-largest in Asia, according to the report.
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