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Lower ringgit boosts rubber glove exports

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Top Glove Corp, the world’s biggest rubber-glove maker, said the fall in Malaysia’s currency to its weakest level in six years would benefit the country’s exporters.

The stronger US dollar “augurs well” for exports, chairman Tan Sri Lim Wee Chai said. A weaker currency makes Malaysian goods cheaper for importers, and boosts the value of overseas export sales at companies such as Top Glove.

The ringgit has weakened 14% versus the dollar in the past six months, the most among Asian currencies, as oil prices tumbled and investors speculated the Federal Reserve will bring forward the timing of interest-rate increases.