Ringgit opens mostly higher after Malaysia’s GDP growth beats expectations
KUALA LUMPUR, Oct 19 — The ringgit opened mostly higher against a basket of major currencies today after Mala...
KUALA LUMPUR — The Malaysian ringgit opened higher against major currencies today after the country's GDP growth for the third quarter surpassed expectations. The advance estimate estimated the growth rate at 5.3 percent, surpassing the previous quarter's 6.0 percent growth. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid suggested that the stronger-than-expected economic growth could lead to a potential normalization of monetary policy.
The ringgit strengthened against the US dollar, euro, British pound, Japanese yen, Indonesian rupiah, Philippine peso, Singapore dollar, and Thai baht. However, it weakened against the Japanese yen.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Ringgit opens mostly higher as GDP growth beats forecasts nst.com.my
- Ringgit firmer as Malaysia’s Q3 GDP growth beats expectations freemalaysiatoday.com
