KUALA LUMPUR (March 15): The ringgit, perceived to be undervalued, is expected to strengthen further in 2018. The Securities Commission Malaysia (SC) said today the ringgit's strength will be underpinned by Malaysia's improving macro fundamentals and fiscal position.

"The current level of the ringgit, widely perceived to be undervalued, provides buying opportunity in the Malaysian capital market," the SC said in its Annual Report 2017.

At the time of writing today, the ringgit was traded at 3.9175 against the US dollar. Over the last one year, the exchange rate was between 3.8663 and 4.4447.