KUALA LUMPUR: The ringgit ended the week higher against the US dollar today on Malaysia’s better-than-expected gross domestic product (GDP) figure in the second quarter of 2017 (2Q17), which sparked positive sentiment in the market.
At 6pm, the local unit was quoted at 4.2880/2910 against the greenback, from yesterday's 4.2940/2970.
In a statement today, FXTM vice president of Corporate Development and Market Research, Jameel Ahmad, said sentiment towards the Malaysian economy received yet another boost, following news that the GDP grew by an annualised 5.8 per cent in 2Q17.
“It is worth noting that this is the second quarter in succession during which GDP readings have smashed expectations, and all eyes will now focus on whether the economy can continue the trend over the remainder of 2017,” he said.
Meanwhile, the ringgit ended mixed against other major currencies.
It rose against the Singapore dollar to 3.1423/1457 from 3.1430/1464 on Thursday, and depreciated versus the yen to 3.9285/9324 from 3.8997/8032 yesterday. It decreased against the euro to 5.0311/0363 from 5.0261/0305 yesterday, and strengthened against the British pound to 5.5247/5302 from 5.5311/5354 on Thursday. -- BERNAMA