FX.co ★ Ringgit Extends Upward Momentum to 8th Session

The Malaysian ringgit edged closer to 4.13 per dollar on Thursday, marking the eighth consecutive session of appreciation, driven by robust economic performance and enhanced investor confidence. Malaysia's economy expanded by 5.2% year-on-year in the third quarter of 2025, up from 4.4% in the second quarter, achieving its highest growth rate in a year, according to preliminary figures. Sentiment improved further due to easing trade tensions between the US and China, two of Malaysia's primary export markets, alongside a resurgence in foreign interest for local assets. Last week's decision by Bank Negara to maintain interest rates underscored confidence in Malaysia's economic resilience despite the challenges posed by U.S. tariffs. To date, foreign investors have purchased nearly MYR 16.52 billion in Malaysian bonds, supporting the local currency, which has become Asia's leading performer with an 8% increase. In contrast, the US dollar index remained near 99.5 following President Trump's signing of a short-term funding bill, thus formally concluding the longest government shutdown in U.S. history.