FW: [Maybank] MYR – Poised for Greater Stability

 

 

MYR – Poised for Greater Stability FX Insight by Saktiandi Supaat FX Research We maintain our out-of-consensus USDMYR forecasts for this year at 3.85, 3.70 and 3.65 for 2Q, 3Q and 4Q, respectively. Current level of Ringgit remains fundamentally undervalued relative to our fair value estimates of 3.56 for USDMYR and we expect this misalignment to correct further in the longer term. MYR fundamentals remain well anchored by current account surplus, rising FX reserves, sustained growth pick-up and higher oil prices. We lowered USDMYR forecasts beyond 2018... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.