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Ringgit Advances on Policy-Rate Outlook, Greek Confidence Vote

22/06/2011 05:23:08 AM GMT   Comments ()     Add a comment   Print     E-mail to friend

Malaysia’s ringgit rose to the strongest level in a week ahead of a government report that economists predict will show inflation quickened, stoking speculation of an increase in borrowing costs.

Consumer prices rose 3.3 percent in May from a year earlier, the most since March 2009, according to the median estimate of economists surveyed by Bloomberg before the data on June 24. The currency climbed for a second day as the MSCI Asia-Pacific Index of stocks gained 0.7 percent after Greek Prime Minister George Papandreou won a vote of confidence, boosting chances of pushing through measures to get financial aid.


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Source: AJP

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