KUALA LUMPUR — The Malaysian ringgit opened higher against the US dollar on Wednesday, driven by robust domestic economic data that has strengthened expectations for a potential normalization of the Overnight Policy Rate (OPR).
At 8:00 AM, the ringgit rose to 4.0795/0850 versus the greenback, compared to Tuesday’s close of 4.0805/0845.
Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, highlighted that strong economic indicators, particularly export growth and gross domestic product (GDP) expansion, provide solid support for the local currency.
“Recent data points for the Malaysian economy have increased the odds of OPR normalization. The latest trade figures show exports surged 54.5% in September, while GDP grew 5.3% in the third quarter of 2026, exceeding consensus forecasts,” he commented.
He added that easing expectations of a US interest rate hike at the Federal Reserve’s October meeting contributed to a 0.27% fall in the US Dollar Index (DXY) to 101.707 points, further bolstering the ringgit.
The ringgit’s performance was mixed against a basket of major currencies at the opening.
It appreciated against the Japanese yen to 2.5772/5809 from 2.5803/5830, but depreciated against the British pound to 5.4551/4625 from 5.4475/4528 and edged down against the euro to 4.5796/5858 from 4.5771/5816.
Against its ASEAN peers, the ringgit showed a mixed performance.
It traded marginally higher versus the Indonesian rupiah at 226.7/227.1 from 226.8/227.1, and gained slightly against the Philippine peso to 6.46/6.48 from 6.47/6.48.
The local currency was lower against the Thai baht at 12.1341/1577 from 12.1241/1411 and depreciated versus the Singapore dollar to 3.1918/1964 from 3.1914/1950. — Bernama
