Malaysia's central bank said on Friday that external developments such as the U.S. debt ceiling impasse have been instrumental in weakening the ringgit, stressing that it was not due to domestic factors.

Bank Negara Malaysia also maintained the country's 2023 growth forecast at 4 per cent to 5 per cent.

The ringgit, which has lost 4.3 per cent so far this year, hit its lowest level against the U.S. dollar since last November before recouping losses to end 0.6 per cent higher on Friday.