Kuala

Lumpur (VNA), Feb. 28 -- An official of Malaysia's central bank expected the country's ringgit to trade higher on the back on positive economic prospects.

Governor of Bank Negara Malaysia (BNM) Abdul Rasheed Ghaffour said the ringgit is currently undervalued but ought to be traded higher thanks to Malaysia's positive economic fundamentals and prospects.

The currency hit a 26-year low on February 20 to trade at 4.80 MYR per USD.

Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, noted the local note's fair value is closer to 3.90 MYR per USD, pointing out that the ringgit has been hovering below 100 points on both the Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) indice...