KUALA LUMPUR: The ringgit climbed to a fresh high of 3.8995 against the US dollar on Thursday, hovering near its strongest level in almost eight years.
The local currency last traded around that level on April 23, 2018, at 3.8965/8995 against the US dollar.
At 6 pm, the local currency firmed to 3.8995/9060 versus the greenback, strengthening from Wednesday's close of 3.9110/9170.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said emerging market currencies, including the ringgit, continue to gain against the greenback despite data points in the United States yesterday, with Nonfarm Payrolls being higher than expected.
He stated that data points regarding the Malaysian economy - such as the Industrial Production Index, the Index of Services, construction work completed, crude palm oil production, and the unemployment rate - indicate that the gross domestic product (GDP) growth for the fourth quarter of 2025 (4Q2025) is likely to exceed the previous quarter's growth of 5.2 per cent in the third quarter of 2025 (3Q2025).
"The advance estimates showed the 4Q2025 GDP was at 5.7 per cent. Perhaps, there is a good chance that the actual data might exceed when it is announced tomorrow," Mohd Afzanizam told Bernama.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It appreciated versus the Japanese yen to 2.5499/5543 from 2.5527/5566 at Wednesday's close, strengthened against the euro to 4.6346/6423 from 4.6611/6683 previously, and appreciated vis-a-vis the British pound to 5.3220/3309 from 5.3561/3643 yesterday.
The local note was traded mixed against its ASEAN peers.
The ringgit inched up against the Indonesian rupiah to 231.7/232.2 from 233.0/233.4 at Wednesday's close, and was higher vis-a-vis the Singapore dollar at 3.0931/0985 from 3.0990/1040 previously.
However, it eased versus the Thai baht to 12.5998/6273 from 12.5808/6062 yesterday and was unchanged against the Philippine peso, closing at 6.71/6.72. - Bernama
