On a Wednesday morning in Kuala Lumpur, the ringgit edged slightly firmer against the US dollar, opening at 3.9315/9370 as traders braced for Friday's first-quarter GDP figure. The Statistics Department's projection of 5.3 per cent growth stands as a quiet signal of resilience in an uncertain world, even as a strong dollar, held elevated by the Federal Reserve's restrictive stance, keeps the currency's gains modest. It is a small movement, but it marks the moment a nation waits to learn whether its economy has kept its footing.
Ringgit Opens Higher Against Dollar and Major Currencies Ahead of Malaysia's Q1 GDP Release
A firm dollar on one side, a 5.3 per cent growth projection on the other
Mark
The ringgit opened higher, but the move looks tiny. Why report it?
Mimi
Because of timing. It opened at 3.9315/9370 versus 3.9320/9360 at Tuesday's close, and Friday's first-quarter GDP release is close.
Luke
Worth saying plainly: that's a very small move. The piece doesn't claim it's a trend.
Mark
What's the growth number everyone's referring to?
Mimi
The Statistics Department Malaysia projected 5.3 per cent growth for the first quarter of 2026.
Luke
It's a projection, though. The official figure arrives Friday, and until then 5.3 per cent is what's expected, not what's confirmed.
Mark
And the dollar? Isn't it strong right now?
Mimi
The Dollar Index rose 0.36 per cent to 98.305, according to Mohd Afzanizam of Bank Muamalat, on expectations the Fed keeps a restrictive stance. He still called the ringgit fairly stable.
Luke
That's one economist's reading. The source doesn't say how much of the ringgit's firmness comes from the GDP expectation versus anything else.
Mark
So the regional picture is mixed?
Mimi
Yes. Slightly firmer against the rupiah, flat against the peso, softer against the Singapore dollar and the baht.
O Pulso
- The ringgit opened a touch firmer at 3.9315/9370, a small shift that hints at rising tension before Friday's data.
- The US Dollar Index climbed 0.36 per cent to 98.305, pressing on regional currencies as the Fed holds its restrictive line.
- Analysts point to the projected 5.3 per cent growth as the anchor that could steady the ringgit against global pressure.
- Traders are poised for Friday's official 1Q GDP announcement, the event that will confirm or challenge the projection.
- Against the yen, pound and euro the ringgit gained, while it slipped against the Singapore dollar and Thai baht.
On a Wednesday morning in Kuala Lumpur, the ringgit edged slightly firmer against the US dollar, opening at 3.9315/9370 as traders braced for Friday's first-quarter GDP figure. The Statistics Department's projection of 5.3 per cent growth stands as a quiet signal of resilience in an uncertain world, even as a strong dollar, held elevated by the Federal Reserve's restrictive stance, keeps the currency's gains modest. It is a small movement, but it marks the moment a nation waits to learn whether its economy has kept its footing.
At eight o'clock this morning in Kuala Lumpur, the ringgit opened at 3.9315/9370 against the US dollar, a hair firmer than Tuesday's close of 3.9320/9360. The move was slight, but it arrived at a moment heavy with anticipation, a week in which Malaysia's first-quarter GDP figure is due on Friday.
The Statistics Department has projected that the economy grew 5.3 per cent in the first quarter of 2026. The report frames this as resilience amid global uncertainty, and analysts say it lends support to the currency.
The dollar, however, was not weak. Mohd Afzanizam Abdul Rashid of Bank Muamalat Malaysia told Bernama that the US Dollar Index had risen 0.36 per cent to 98.305, a move he tied to expectations that the Federal Reserve will hold its restrictive stance. Against that backdrop, he noted, the ringgit looked fairly stable.
Across other major currencies the morning was mostly kind. The ringgit firmed against the yen, the pound and the euro, while the regional picture was mixed, with small gains against the rupiah and no change against the peso. It slipped against the Singapore dollar and the Thai baht.
All eyes now turn to Friday, when the official GDP announcement will show whether the 5.3 per cent projection holds. Until then, the ringgit waits between a firm dollar and a growth figure expected to lend it strength.
At eight o'clock this morning in Kuala Lumpur, the ringgit opened at 3.9315/9370 against the US dollar. Tuesday's close was 3.9320/9360, so the move was a slight one, but it put the currency a touch firmer going into a week with a significant data release on the calendar.
That release is Malaysia's first-quarter gross domestic product figure, due on Friday. Ahead of it, the Statistics Department Malaysia has projected that the economy grew 5.3 per cent in the first quarter of 2026. The report describes that projection as a sign of resilience in the face of global uncertainties, and as a factor supporting the ringgit.
The dollar itself was not weak. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, told Bernama that the US Dollar Index rose 0.36 per cent to 98.305 points. He tied the rise to expectations that the US Federal Reserve will hold to its restrictive monetary policy stance in the near term. Even so, he said, the ringgit appears fairly stable by comparison.
Against other major currencies, the ringgit's morning was mostly positive. It strengthened against the Japanese yen, moving to 2.4933/4970 from 2.4952/4979. Against the British pound it rose to 5.3213/3287 from 5.3231/3286. Versus the euro it went to 4.6136/6201 from Tuesday's close of 4.6189/6236.
The picture among regional currencies was more mixed. The ringgit gained marginally against the Indonesian rupiah, at 224.2/224.7 compared with 224.3/224 previously, and was unchanged against the Philippine peso at 6.39/6.41.
It lost a little ground elsewhere in the neighbourhood. Against the Singapore dollar it eased to 3.0910/0956 from 3.0888/0922, and it slid against the Thai baht to 12.1421/1663 from 12.1276/1455.
The story to watch is Friday's official GDP announcement, which will show whether the 5.3 per cent projection holds. Until then, the ringgit sits between a firm dollar, shaped by the Fed's stance, and a domestic growth figure that analysts expect to support it.
Citações Notáveis
The ringgit appears to be fairly stable relatively.— Mohd Afzanizam Abdul Rashid, chief economist, Bank Muamalat Malaysia Bhd, to Bernama
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Economy & Finance