KUALA LUMPUR, Jan 16 — The ringgit rebounded to open slightly higher against the US dollar ahead of the release of Malaysia’s advance fourth quarter of 2025 (Q4 2025) gross domestic product (GDP) estimates later today.

At 8am, the local currency traded slightly higher at 4.0515/0600 against the dollar, compared with Thursday’s close of 4.0535/0595.

Bank Muamalat Malaysia Bhd’s chief economist Dr Mohd Afzanizam Abdul Rashid said the advance GDP figures are due to be announced today, with consensus estimates pointing to a stronger growth rate of 5.4 per cent.

“Strong economic growth could mean there is less urgency for the central bank to cut interest rate this year. 

“Hence, this could provide support to the ringgit,” he told Bernama, adding that the ringgit is likely to stay within the range of RM4.05 to RM4.06 today. 

On Thursday, the ringgit closed lower against the greenback by 0.17 per cent as the US dollar got a boost from better-than-expected Initial Jobless Claims (IJC), which dampened near-term expectations for interest rate cuts.

The US Dollar Index (DXY) rose 0.32 per cent to 99.371 points as the IJC fell to 198,000 last week against consensus estimates of 215,000. 

The 2-year and 10-year US Treasury yields increased by 3.7 and 5.6 basis points to close at 3.57 per cent and 4.17 per cent respectively. 

At the opening, the ringgit traded higher against a basket of major currencies.

It edged up versus the Japanese yen to 2.5547/5604 from 2.5594/5633 at yesterday’s close, appreciated vis-à-vis the euro to 4.7034/7133 from 4.7167/7236 and rose against the British pound to 5.4213/4327 from 5.4467/4548.

The local note was mixed against its Asean peers.

The ringgit edged up versus the Singapore dollar to 3.1456/1524 from 3.1491/1540 and increased versus the Thai baht to 12.8967/9341 from 12.9096/9349 previously. 

It was flat vis-à-vis the Philippine peso at 6.81/6.83 and was little changed against the Indonesian rupiah to 239.7/240.4 from 239.9/240.3 at yesterday’s close. — Bernama