The Malaysian ringgit rose to near a 21/2-month high of 3.575 against the US dollar on Friday morning in Asia, compared to Thursday's New York session closing value of 3.61. On the upside, the ringgit is likely to find target near the 3.527 level.
In economic news, Malaysia is set to release its February numbers for imports, exports and trade balance on Friday. Imports are expected to decline 28 percent on year following the 32 percent annual fall in January. Exports are forecast to fall 25 percent on year after the 27.8 decline in the previous month. The trade balance is expected to reflect a surplus of 8.5 billion ringgit.
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