Malaysian Ringgit rose for first time in 3 weeks

KUALA LUMPUR: The ringgit rose for first time in almost three weeks after Malaysian economic data beat estimates and the central bank set out plans to boost market liquidity.

The ringgit rose 0.33% against the dollar at 2.13pm to 4.1600. On Wednesday it closed at 4.1711.

Malaysia’s GDP and current-account data are fairly positive, and are helping to support the ringgit. Central bank’s measures to support market liquidity and accessibility are also positive.

USD/MYR is expected to be range bound in the short term

Malaysian 1Q GDP +4.5% y/y vs est. +4.3%. Current-account surplus widened to the most in five years.

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