Based on the total number of $ 2.9 billion (about 9.37 billion ringgit) of government bonds will expire tomorrow, the market fears this may contribute to global investors to massive withdrawals from the bond market, causing ringgit exchange rate today fell to its lowest level in three years . According to "Bloomberg" reports, Credit Agricole CIB in Hong Kong, a strategist Dariusz Kowalczyk said today ringgit bonds may have a very significant foreign ownership rate, once these foreign funds withdrawal from the local bond market, will result in RM was downtrend. "Bloomberg" The data show that three-year Malaysian government bond yields surged yesterday to 2008, the highest level since November. Singapore, Australia and New Zealand Banking District senior strategist Khoon Goh noted that "RM One of the major reasons for devaluation, the Malaysian government bonds massive redemptions in the market concerned, the next will see a massive withdrawal of foreign bond market the situation. " RM 10 points in early trading today, down 0.3 percent to 3.2365 ringgit level. Earlier, more fell to 3.2379 ringgit ringgit is RM since early July 2010, the lowest since record levels. Up to now, RM has been in decline for five consecutive days, the highest since December 2012 the longest losing streak. RM in July fell 2.4 percent overall this year, a decrease of 5.5%.
Posted on: Wed, 31 Jul 2013 09:05:12 +0000
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