Ringgit opens higher versus greenback on upbeat GDP data

KUALA LUMPUR: At 8am on Friday, the Malaysian ringgit opened stronger against the US dollar, buoyed by Malaysia's impressive Q2 2026 GDP growth of 6.0 per cent, according to an economist. Dr Mohd Afzanizam, Chief Economist at Bank Muamalat Malaysia Bhd, noted that the economy has remained robust and continues to exceed expectations, as indicated by the latest GDP figures. He further opined that the ringgit would likely hover between RM4.07 and RM4.09 throughout the day.

External factors also played a role in shaping the currency's performance. Geopolitical risks continue to exert upward pressure on crude oil prices, which in turn maintains the ringgit's position within a narrow range against the US dollar. However, traders and investors remain uncertain about the impact of this development on inflation, which largely depends on the US Federal Reserve's monetary policy decisions during the upcoming Federal Open Market Committee meeting on September 15 and 16, 2026.

Despite the mixed performance against major currencies, the ringgit showed resilience in the face of fluctuating global economic conditions. Against the Japanese yen, it strengthened to 2.5645/5685, against the euro to 4.7257/7326, and against the British pound, it fell to 5.5312/5394. It also increased against the Singapore dollar to 3.1923/1975 but declined against the Thai baht to 12.3190/3442.

The local currency remained steady against the Philippine peso at 6.64/6.66 and unchanged against the Indonesian rupiah, at 229.0/229.4.