News about Malaysia

The ringgit opened mostly higher against major currencies on Monday after Malaysia's advance estimate showed third-quarter 2026 GDP growth of 5.3%, stronger than expected and following 6.0% in the previous quarter. Against the US dollar, the ringgit was little changed at 4.0790/0855 at 8 am, versus Friday's close of 4.0795/0835. Bank Muamalat Malaysia chief economist Dr Mohd Afzanizam Abdul Rashid said stronger growth could reinforce expectations of possible monetary policy normalisation, and expected the ringgit-USD to trade between RM4.07 and RM4.08. Concerns over AI-related stock valuations could push investors toward safe havens such as US Treasury bonds, potentially supporting the dollar. The ringgit gained against the euro but weakened against the Japanese yen.