The Malaysian ringgit advanced today, paring earlier decline, on hopes that the government will announce measures that will help to improve the financial health of Malaysia.
The Malaysian government is expected to announce measures that should reduce spending. Among them: a consumption tax, reduction of subsidies and delay of infrastructure projects. The ringgit rallied, paring the previous drop that was caused by concerns about possible quantitative easing tampering by the US Federal Reserve.
USD/MYR was down from 3.2868 to 3.2728 as of 13:23 GMT today after rallying to 3.3003 earlier.
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