By REUTERS
The Malaysian ringgit jumped 2% on Friday to hit a three-and-a-half-month high as crude prices extended gains, easing concerns over the country’s falling oil and gas prices.
The currency also found support as the Bank of Japan unexpectedly cut a benchmark interest rate below zero, helping investors seek higher yields.
The ringgit strengthened to as much as 4.1230 per US dollar, its strongest since Oct 15.
The government’s 10-year bond prices rose with the yield down to 3.857%, the lowest since May 6, 2015.
Malaysia is a major supplier of palm oil and natural liquefied gas.
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