Ringgit Surges on Strong Q2 Growth Data

The Malaysian ringgit opened stronger against the US dollar on Monday, following the release of upbeat second quarter (Q2) 2026 GDP growth data. The local currency gained 0.5% to 4.0830/4.0890 against the greenback from Friday's close of 4.0840/4.0885.

Afzanizam Rashid, chief economist at Bank Muamalat Malaysia Bhd, attributed the ringgit's resilience to Malaysia's continued surprise on the upside with its GDP growth. He predicted that the local currency would hover around RM4.07 to RM4.09 today.

The ringgit remained mixed against a basket of major currencies, increasing against the Japanese yen and euro but falling against the British pound. It also traded marginally higher against the Singapore dollar and lower against the Thai baht.