17.01.202006:12:00UTC+00Malaysian Ringgit Climbs To 1-1/2-year High Against U.S. Dollar

The Malaysian Ringgit strengthened against the U.S. dollar in Asian deals on Friday, as investor sentiment lifted up after strong Chinese economic data.

Official data showed that China's economy grew in line with expectations. Data released by the National Bureau of Statistics showed that China's gross domestic product or GDP grew 6.1 percent in 2019, which was well within the target of 6 to 6.5 percent growth. The Malaysian Ringgit advanced to a 1-1/2-year high of 4.0540 against the greenback from yesterday's closing value of 4.0610. If the Ringgit rises further, 3.8 is seen as its next resistance level.