KUALA LUMPUR (March 3): Credit Suisse Global Fixed Income Research has revised its three-month forecast on the ringgit to RM4.45 against the US dollar compared with RM4.50 previously. A seasonal rise in dividend repatriation around April could turn the balance towards net inflows," Credit Suisse research analysts Ray Farris and Trang Thuy Le said in a note today. "Large upcoming redemptions in March (RM10.5 billion), September (RM14 billion), and October (RM13.5 billion) suggest risk of further outflows. Meanwhile, Credit Suisse said the daily onshore forex turnover has increased, partly due to Bank Negara's active participation in the forex market. "Data up to December suggest the rise in forex turnover was largely due to an increase in swap transaction volume, while forex spot turnover has increased only marginally," said the report.

Source: The Edge Markets March 03, 2017 11:13 UTC