{
  "id": 1696565,
  "title": "Ringgit closes higher on falling US rate hike odds and strong Malaysia GDP data",
  "url": "https://urgent.news/2026/08/18/ringgit-closes-higher-on-falling-us-rate-hike-odds-and-strong",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T10:44:02.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/money/2026/08/18/ringgit-closes-higher-on-falling-us-rate-hike-odds-and-strong-malaysia-gdp-data/231825"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR, Aug 18 — The Malaysian ringgit continued its upward trend on Tuesday, closing stronger against major and regional currencies as the odds of a US Federal Reserve interest rate hike in September diminished. By 6 pm, the ringgit reached 4.0575/0615 against the US dollar, up from Monday's close of 4.0585/0630. Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, attributed the ringgit's rise to lower expectations of a rate hike, along with positive sentiment towards the Malaysian economy. Finance Minister II, Datuk Seri Amir Hamzah Azizan, highlighted the nation's strong economic performance in the first half of the year, surpassing Bank Negara Malaysia's GDP projection of four to five percent. Malaysia's economy grew by 5.7 percent in the first half of 2026, with a 5.4 percent increase in the first quarter and a 6 percent surge in the second quarter. However, Dr Afzanizam cautioned that market sentiment was still uncertain, as rising crude oil prices could lead to inflationary pressures towards the year's end, potentially reigniting the rate hike scenario. The local currency also strengthened against several other currencies, including the Japanese yen, British pound, euro, Philippine peso, Thai baht, Indonesian rupiah, and Singapore dollar.",
  "summary": "KUALA LUMPUR, Aug 18 — The ringgit extended its gains to close higher against major and regional currencies on Tue...",
  "key_points": [],
  "editors_take": null,
  "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."
}