Ringgit opens higher against major currencies, flat vs US$
The Malaysian ringgit opened higher against most major currencies but remained flat against the US dollar on Friday. Investors are awaiting the release of Malaysia's second-quarter GDP estimates, which are expected to show solid growth.
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Economic indicators like GDP growth are critical for currency valuation and investor confidence in emerging markets.
KUALA LUMPUR: The ringgit opened higher against most major currencies but was flat against the US dollar on Friday, as investors remained cautious ahead of the release of Malaysia’s advance estimate for the second quarter (2Q) gross domestic product (GDP) today, an analyst said.
At 8 am, the local currency traded at 4.0710/0780 against the greenback.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the market is focused on Malaysia’s advance estimate for 2Q 2026 GDP growth, with the consensus forecast at 5.3 per cent.
"We project the advance GDP estimate for 2Q 2026 to come in at 5.1 per cent, supported by resilient external demand, particularly stronger exports related to the electrical and electronics sector.
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