Malaysian ringgit hits highest since 2018 on AI, growth optimism
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The Malaysian ringgit has reached its highest level since 2018, driven by optimism regarding AI supply chains and the country's growth outlook. It appreciated to 3.9750 per US dollar, with forecasts suggesting it could rise to 3.9 this quarter. Factors such as strong domestic demand, tourism, and a booming data-centre sector are contributing to this growth. The ringgit is currently the top-performing currency in Asia for January, supported by foreign investment and stable interest rates from Bank Negara Malaysia.
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