KUALA LUMPUR: The ringgit opened higher against the US dollar and major currencies on Monday, supported by stronger-than-expected advance estimates showing Malaysia's economy expanded faster in the second quarter (2Q) of 2026.
At 8 am, the local currency strengthened to 4.0920/0995 against the greenback from Friday's close of 4.0930/0990.
The country's economy expanded 5.8 per cent year on year in 2Q 2026, according to advance estimates of gross domestic product (GDP) released by the Department of Statistics Malaysia on Friday, accelerating from 5.4 per cent in the first quarter.
Despite the stronger domestic economic data, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said currency markets were likely to remain focused on developments in West Asia after casualties among United States (US) military personnel increased following exchanges between US and Iranian forces.
He said the US Dollar Index (DXY) remained well supported, rising 0.08 per cent from the previous close to 100.846 points.
"Against this backdrop, the ringgit is likely to trade on a softer note. On Friday, it closed 0.57 per cent lower against the greenback at RM4.0960.
"As such, the local currency could trade within a range of RM4.0900 and RM4.1165 today," he told Bernama.
The ringgit also traded firmer against a basket of major currencies.
It edged up against the British pound to 5.5017/5118 from 5.5018/5099 at Friday's close, strengthened versus the euro to 4.6759/6845 from 4.6824/6893, and appreciated against the Japanese yen to 2.5177/5225 from 2.5208/5246.
The local currency also traded higher against most regional peers.
It rose against the Singapore dollar to 3.1664/1727 from 3.1709/1758, strengthened versus the Indonesian rupiah to 228.3/228.8 from 228.4/228.8, and advanced against the Thai baht to 12.1504/1781 from 12.1743/1965.
The ringgit was unchanged against the Philippine peso at 6.64/6.66. - Bernama
