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Ringgit Rises After Economy Grows 5.8% in Q2
خلاصہ۔：The ringgit opened firmer against the US dollar and most major currencies on Monday after Malaysia's advance GDP estimates showed the economy grew 5.8% in Q2 2026, up from 5.4% in Q1. Gains were broad-based across the British pound, euro, yen, Singapore dollar, Indonesian rupiah and Thai baht, though geopolitical tensions in West Asia kept the US Dollar Index elevated and may cap further ringgit upside.
فہرستGDP surprise drives early gains
The ringgit opened higher against the US dollar on Monday, July 20, 2026, strengthening to 4.0920/0995 at 8am from Friday's close of 4.0930/0990. The modest gain was underpinned by stronger-than-expected economic data released over the weekend.
Malaysia's economy expanded 5.8% year-on-year in the second quarter of 2026, according to advance GDP estimates from the Department of Statistics Malaysia (DOSM). That marks a clear acceleration from the 5.4% growth recorded in the first quarter, giving currency markets a reason to tilt bullish on the local note at the opening bell.
Broad strength across the currency basket
The ringgit's firmness extended well beyond the greenback. Against the British pound, it strengthened to 5.5017/5.5118, while the euro slipped to 4.6759/4.6845. The Japanese yen weakened to 2.5177/2.5225 against the local currency.
Regional peers also gave ground. The ringgit advanced against the Singapore dollar to 3.1664/3.1727, the Indonesian rupiah to 228.3/228.8, and the Thai baht to 12.1504/12.1781. The Philippine peso was the sole exception, holding unchanged at 6.64/6.66.
Geopolitical risks cap the upside
Despite the positive domestic catalyst, analysts cautioned that external headwinds could limit further gains. Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, noted that currency markets were closely watching developments in West Asia following exchanges between US and Iranian forces that resulted in casualties among American military personnel.
The US Dollar Index edged 0.08% higher to 100.846 points, reflecting cautious demand for the safe-haven currency. Afzanizam projected the ringgit would trade within a range of RM4.0900 to RM4.1165 for the day, suggesting the GDP-driven optimism may be tempered by geopolitical uncertainty as the session unfolds.
ڈس کلیمر:
یہ مضمون صرف مصنف کی ذاتی رائے پر مبنی ہے، یہ پلیٹ فارم کی سرمایہ کاری کی مشورہ نہیں ہے۔ پلیٹ فارم مضمون کی معلومات کی درستگی، مکملیت اور بروقت ہونے کی کوئی ضمانت نہیں دیتا، اور مضمون کی معلومات پر اعتماد یا استعمال سے ہونے والے کسی بھی نقصان کی ذمہ داری قبول نہیں کرتا۔
