# Higher GDP provides boost for ringgit

> The ringgit rose about 0.4% against the dollar to 4.178 after Malaysia reported second-quarter GDP growth of 4.9%, above expectations. The central bank also announced further liberalisation of its foreign-exchange administration policy.

- Date: 2019-08-19 · published 2019-08-19T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/57864-higher-gdp-provides-boost-for-ringgit
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Stronger-than-expected growth and a firmer ringgit lower USD/MYR, modestly reducing the local cost of dollar-priced feed imports.

## Read by commodity

- USDMYR: bearish ▼

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2019/08/19/higher-gdp-provides-boost-for-ringgit/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.