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Standard Chartered: Ringgit still undervalued after earlier-than-expected rally

Mimi Sabreena 1:17:00 PM Informasi

KUALA LUMPUR (Aug 15): Standard Chartered said the ringgit was still undervalued, despite its earlier-than-expected rally. The research firm said the ringgit might reach its fair value at 4.10 against the US dollar by end 2017 and hover at that level until mid-2018, following the decent rally.

Standard Chartered foreign exchange (FX) strategist Divya Devesh said while the ringgit had seen a decent rally earlier than expected, Standard Chartered remained "overweight" on the currency. He said the ringgit was still one of the most undervalued among emerging market currencies.

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