KUALA LUMPUR, Oct 19 — The ringgit opened mostly higher against a basket of major currencies today, supported by Malaysia's stronger-than-expected advance estimate of 5.3 per cent gross domestic product (GDP) growth in the third quarter of 2026.
Against the US dollar, the ringgit was little changed, trading at 4.0790/0855 at 8 am compared with Friday's close of 4.0795/0835.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the stronger-than-expected economic growth could reinforce expectations of a potential normalisation of monetary policy.
The Department of Statistics Malaysia, in its advance GDP estimates released on Friday, reported that the economy expanded by 5.3 per cent in the third quarter, following growth of 6.0 per cent in the preceding quarter.
Meanwhile, concerns over the valuations of artificial intelligence (AI)-related stocks could prompt traders and investors to turn to safe-haven assets, including US Treasury bonds, potentially lending support to the US dollar.
"Therefore, the ringgit-US dollar could trade in the range between RM4.07 and RM4.08 today," he told Bernama.
At the opening, the ringgit strengthened against the euro to 4.5791/5864 from Friday's close of 4.5911/5956 and edged up against the British pound to 5.4393/4480 from 5.4396/4449.
However, it weakened against the Japanese yen to 2.5849/5892 from 2.5831/5895.
Against its ASEAN peers, the ringgit also traded mostly higher.
It edged up against the Indonesian rupiah to 226.2/226.7 from 226.3/226.6 and the Philippine peso to 6.47/6.49 from 6.48/6.49.
The local currency also strengthened against the Singapore dollar to 3.1882/1935 from Friday's close of 3.1889/1922 and the Thai baht to 12.2013/2320 from 12.2101/2268.
