KUALA LUMPUR: The ringgit opened higher against a basket of major currencies, including the US dollar today, ahead of Malaysia’s first quarter (1Q) gross domestic product (GDP) announcement on Friday.
At 8 am, the local unit inched up to 3.9315/9370 against the greenback, compared with Tuesday’s close of 3.9320/9360.
Statistics Department Malaysia projected Malaysia’s economy to grow 5.3 per cent in 1Q 2026, reflecting its resilience amid global uncertainties, and hence, boosting the ringgit.
Meanwhile, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) rose 0.36 per cent to 98.305 points, amid expectations that the US Federal Reserve will maintain its restrictive monetary policy stance in the near term.
"Notwithstanding that, the ringgit appears to be fairly stable relatively,” he told Bernama.
At the opening, the ringgit appreciated against the Japanese yen to 2.4933/4970 from 2.4952/4979. It strengthened versus the British pound to 5.3213/3287 from 5.3231/3286, and rose against the euro to 4.6136/6201 from 4.6189/6236 at Tuesday’s close.
Against regional peers, the ringgit gained marginally against the Indonesian rupiah to 224.2/224.7 from 224.3/224 and was unchanged against the Philippine peso at 6.39/6.41.
The ringgit eased against the Singapore dollar to 3.0910/0956 from 3.0888/0922 and slid versus the Thai baht to 12.1421/1663 from 12.1276/1455. - Bernama
