Ringgit Hits Highest in Four Years on Growth, AI Optimism

The Malaysian ringgit reached the strongest level against the dollar in more than four years, reflecting optimism over the Southeast Asian country’s economy and linkages to the global tech cycle.

The ringgit rose as much as 0.3% versus the greenback to 4.0938 on Friday, the highest since May 2021. With a gain of more than 9% against the dollar, it is Asia’s best-performing currency this year.