SINGAPORE: The Malaysian ringgit rose to a near 10-month high after data showed stronger-than-expected second quarter economic growth, while other emerging Asian currencies are set to post weekly gains on hopes of stimulus from major central banks.
The ringgit rose as much as 0.8 percent to 3.1540 per dollar, its strongest since Oct. 31.
The gain helped the ringgit outpace daily and weekly appreciation in regional units.
So far this week, the Malaysian currency has gained 1.6 percent against the dollar, which would be the largest weekly rise since September last year, according to Thomson Reuters data.
South Korea's won followed the ringgit with a 1.5 percent gain.
Investors covered short positions after a widely expected interest rate cut by the central bank on Thursday, and as the central bank governor adopted a generally neutral policy stance. That disappointed some who had expected a more dovish tone.
The Philippine peso ended the week 1.1 percent stronger on demand from offshore funds. Remittance inflows from overseas Filipinos in June hit a six-month high, central bank data showed earlier, providing more support to the peso.
Thailand's baht has risen 0.9 percent helped by capital inflows, while the Indonesian rupiah has gained 0.8 percent.
The Indian rupee advanced 0.6 percent.
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