KUALA LUMPUR, April 16 -- The ringgit rebounded to close higher against the US dollar ahead of the release of Malaysia's advance gross domestic product (GDP) estimates for the first quarter of 2026 (1Q 2026), due tomorrow.

At 6 pm today, the local currency rose to 3.9520/9560 versus the greenback from 3.9550/9600 at yesterday's close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Malaysian economy is likely to record respectable growth with a consensus estimate of 5.5 per cent for 1Q 2026.

"Hence, the ringgit should be well supported in the near term," he said, adding that hopes for the second round of talks between the United States and Iran continue to dominate market sentiment today.

Meanwhile, IPP...