KUALA LUMPUR (Aug 16): Credit Suisse expects the ringgit to trade at 4.10 against the US dollar “over the next few months”, after estimating Malaysia's 2017 second quarter's (2Q17) gross domestic product (GDP) growth at 6% from a year earlier.

In a note, Credit Suisse said its Malaysia GDP estimate was above consensus estimate at 5.6%.

“Combined with recently high oil prices and improving August trade seasonality, this helps to keep us constructive on the ringgit, targeting 4.10 versus the US dollar over the next few months,” Credit Suisse said.

At 4:15pm today, the ringgit was traded at 4.2977 against the US dollar. Over the last one year, the exchange rate was between 3.9833 and 4.5002.

Bank Negara Malaysia is scheduled to announce the country's 2Q17 GDP figures this Friday.  

According to Bank Negara, the Malaysian economy expanded 5.6% in 1Q17 from a year earlier. In 2016, the country's GDP grew 4.2% from a year earlier, the central bank said.