THE ringgit opened higher against the US dollar and a basket of major global currencies on Wednesday morning, supported by cautious optimism ahead of Malaysia’s first quarter gross domestic product (GDP) announcement due later this week.
At 8am, the local currency edged up to 3.9315/9370 against the US dollar, compared with Tuesday’s close of 3.9320/9360, reflecting a marginal but steady appreciation ahead of key economic data.
Market sentiment was underpinned by projections from the Department of Statistics Malaysia, which has forecast that the economy will expand by 5.3 per cent in the first quarter of 2026, signalling continued resilience amid ongoing global uncertainty and offering underlying support for the ringgit.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said broader dollar strength persisted, with the US Dollar Index rising 0.36 per cent to 98.305 points, driven by expectations that the US Federal Reserve will maintain a restrictive monetary policy stance in the near term.
“Notwithstanding that, the ringgit appears to be fairly stable relatively,” he told Bernama, noting that domestic fundamentals continued to provide support against external volatility.
Against other major currencies, the ringgit also strengthened at the opening session, rising to 2.4933/4970 versus the Japanese yen from 2.4952/4979 previously.
It appreciated against the British pound to 5.3213/3287 compared with 5.3231/3286 at the previous close, while also gaining against the euro at 4.6136/6201 versus 4.6189/6236.
In regional trading, the local currency inched higher against the Indonesian rupiah to 224.2/224.7 from 224.3/224.8 and remained unchanged against the Philippine peso at 6.39/6.41.
However, the ringgit slipped slightly against the Singapore dollar to 3.0910/0956 from 3.0888/0922 and weakened against the Thai baht to 12.1421/1663 from 12.1276/1455, reflecting mixed sentiment across ASEAN currency markets.
Overall, traders said the ringgit’s performance remained anchored by expectations of Malaysia’s upcoming growth data, while global currency movements continued to be shaped by US monetary policy signals and broader risk sentiment. - May 13, 2026
