KUALA LUMPUR: The ringgit extended Thursday's gains to be higher against the US dollar early Friday, boosted by strong sentiment towards the local currency, dealers said. A dealer said the demand for the ringgit has strengthened following the positive outlook from international rating agencies and research houses, projecting Malaysia's economy to end 2017 on a firm note and forecasting a stronger 2018. Meanwhile, Moody's Investors Service projected Malaysia would be able to maintain its strong growth trend with the economy's long-term potential growth to stay robust at around five per cent, significantly stronger than most other A-rated sovereigns. It said Malaysia's fiscal deficit would narrow from 2.8 per cent of GDP in 2018, as and when strong nominal GDP growth boost revenue. “These positive outlook help spur risks appetite for the ringgit making it among Asian currencies biggest gainer,” a dealer told Bernama.

Source: The Star December 15, 2017 02:58 UTC