At 8 am, the ringgit traded at 4.0710/0780 against the greenback.
KUALA LUMPUR: The ringgit opened higher against most major currencies but was flat against the US dollar on Friday, as investors remained cautious ahead of the release of Malaysia’s advance estimate for the second quarter (2Q) gross domestic product (GDP) today, an analyst said.
At 8 am, the local currency traded at 4.0710/0780 against the greenback.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the market is focused on Malaysia’s advance estimate for 2Q 2026 GDP growth, with the consensus forecast at 5.3 per cent.
“We project the advance GDP estimate for 2Q 2026 to come in at 5.1 per cent, supported by resilient external demand, particularly stronger exports related to the electrical and electronics sector.
“GDP growth of above 5 per cent is considered a solid performance for the Malaysian economy, particularly when driven by investment activity. This should provide positive support for the ringgit,” he told Bernama.
Meanwhile, Mohd Afzanizam said the US Dollar Index (DXY) rose 0.28 per cent to 100.763 points as some US Federal Reserve (Fed) officials continue to support higher interest rates to bring down the inflation rate towards the two per cent target.
Therefore, the ringgit will continue to range between RM4.06 and RM4.08 as sentiment continues to revolve around the Fed’s interest-rate decision.
At the opening, the ringgit strengthened versus the British pound to 5.4865/4959 from 5.4987/5034 at Thursday’s close, rose vis-a-vis the euro to 4.6593/6673 from 4.6678/6718 previously and edged higher against the Japanese yen at 2.5068/5112, compared with 2.5102/5125 yesterday.
However, the local note appreciated versus the Singapore dollar to 3.1551/1610 from 3.1583/1612 at the close on Thursday, and gained vis-a-vis the Thai baht to 12.1161/1430 from 12.1247/1399 previously.
The ringgit was little changed against the Indonesian rupiah at 226.3/226.8 from 226.3/226.6 at Thursday’s close, and against the Philippine peso at 6.60/6.62 compared with 6.60/6.61 previously.
