Malaysia’s Ringgit advances supported by the benchmark stock index that is steering towards a record close. This was fueled by after the Malaysian economic growth and current-account surplus that broke the lower expectations.
In the first quarter, the GDP advanced by 6.2 % compared to that of the previous year, while the economist’s estimated were only at 5.7 %. The data also revealed that there are expectations that in order to temper this quickest inflation in almost three years, the central bank might elevate the borrowing costs for the first time since 2011.
The Ringgit advanced by 0.5 % to 3.2170 against the dollar at the time of 10:53 a.m. in Kuala Lumpur. The FTSE Bursa Malaysia KLCI Index (FBMKLCI) of shares moved up by 0.2 % to 1,887.13.
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