Ringgit Set To Trade Between 3.94 And 3.96 Against US Dollar Next Week

By Abdul Hamid A Rahman

KUALA LUMPUR, May 16 (Bernama) -- The ringgit is expected to trade within a narrow range of between RM3.94 and RM3.96 against the US dollar next week.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that, thus far, the Malaysian economy has performed well, with both domestic and external demand continuing to propel growth to 5.4 per cent, which is better than the advance estimate of 5.3 per cent.

“However, the second half of this year would be more critical should the war in Iran and the blockage of the Strait of Hormuz persist,” he told Bernama.

On Friday, Bank Negara Malaysia reported that Malaysia’s economy expanded by 5.4 per cent, supported by resilient household spending amid favourable labour market conditions and continued policy support.

Investment activity was sustained by spending on machinery and equipment, structural investment, and the implementation of multi-year projects.

The central bank said private consumption expanded by 4.7 per cent in 1Q 2026, while private investment grew 7.8 per cent, and net exports surged 13.5 per cent amid steady export growth and a faster moderation in imports.

The ringgit was lower against the US dollar at 3.9515/9580 on Friday, compared with 3.9185/9230 the week before.

The local note traded higher against a basket of major currencies this week.

It strengthened versus the British pound to 5.2749/2835 from 5.3354/3416, appreciated against the euro to 4.5948/6024 from 4.6121/6174, and enhanced versus the Japanese yen to 2.4927/4968 from 2.5010/5040.

The ringgit also traded higher against its ASEAN peers.

It gained vis-a-vis the Singapore dollar to 3.0871/0927 from 3.0910/0948, appreciated against the Thai baht to 12.0989/1247 from 12.1640/1844, rose versus the Indonesian rupiah to 224.5/225.0 from 225.4/225.7 and elevated against the Philippine peso to 6.40/6.41 from 6.46/6.47.

-- BERNAMA