Ringgit firmer against US dollar on stronger-than-expected GDP growth
KUALA LUMPUR: The ringgit firmed against the US dollar on Friday as Malaysia’s stronger-than-expected Gross Domestic Product growth for the second quarter of the year (2Q 2026) supported the local currency.
The Malaysian ringgit strengthened against the US dollar on Friday, driven by Malaysia's stronger-than-expected GDP growth for the second quarter of 2026. This growth, at 6.0 percent, surpassed the consensus estimate of 5.8 percent. Bank Muamalat Malaysia Bhd chief economist, Dr Mohd Afzanizam Abdul Rashid, attributed this resilience to Malaysia's ability to navigate global economic uncertainties.
The Malaysian Central Bank (BNM) highlighted the growth's origin in domestic demand and robust exports. Household spending was bolstered by steady income growth and policy support, while investment growth was fueled by continued spending on structures and machinery and equipment. The 2Q performance marked an improvement from 1Q, which saw a 5.4 percent growth.
Internationally, the US Dollar Index dipped 0.17 percent to 99.798 points, while the ringgit traded lower against a basket of major currencies, including the Japanese yen, British pound, euro, Philippine peso, Thai baht, Indonesian rupiah, and Singapore dollar.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
