{
  "id": 1594742,
  "title": "Kenanga sees ringgit strengthening to RM3.95 by year-end",
  "url": "https://urgent.news/2026/08/18/kenanga-sees-ringgit-strengthening-to-rm3-95-by-year-end",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T00:00:53.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/08/1513426/kenanga-sees-ringgit-strengthening-rm395-year-end"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Kenanga Investment Bank has forecasted the Malaysian ringgit to strengthen to RM3.95 per US dollar by the end of the year. This prediction is backed by Malaysia's robust economic growth, a steady current account surplus, and a record high in foreign-currency deposits. Kenanga IB maintains a constructive outlook on the ringgit's medium-term performance, interpreting the recent strength in the US dollar as a short-term risk-premium move rather than the beginning of a long-term trend. The ringgit opened higher against the US dollar on Monday, following Malaysia's impressive 6.0% GDP growth in the second quarter of 2026. At 8 am, the local currency strengthened to 4.0830/0890 from the previous day's close of 4.0840/0885. Bank Muamalat Malaysia's chief economist, Dr. Mohd Afzanizam, noted that Malaysia's economy has remained resilient, outperforming expectations following the latest GDP data. The economy expanded by a stronger-than-anticipated 6.0% year-on-year in the April-June period, driven by robust household spending and increased exports despite concerns over the Iran war and external uncertainties. The stronger-than-expected performance has led several investment banks to revise their full-year GDP forecasts upwards.",
  "summary": "KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) has maintained its forecast for the ringgit to strengthen to RM3.95 against the US dollar by year-end, supported by Malaysia’s resilient economic growth, a sustained current account surplus and record foreign-currency deposits.",
  "key_points": [
    "Kenanga forecasts RM3.95 per US dollar by year-end",
    "Malaysia's robust growth and current account surplus support",
    "Recent strength seen as short-term risk-premium move"
  ],
  "editors_take": "Malaysia's economic resilience and robust growth shift the near-term outlook for the ringgit to one of strengthening, driven by steady current account surplus and record foreign-currency deposits.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}