Investors are assessing the prevailing level of the ringgit and how it can evolve going forward, says analyst.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit requires a further catalyst to appreciate further.
“Ringgit was oscillating within a narrow range between RM4.0750 and RM4.0813 today.
“Perhaps, traders and investors are assessing the prevailing level of the ringgit and how it can evolve going forward,” he told Bernama.
Afzanizam said traders would also be watching the US gross domestic product for the third quarter of 2025 (Q3 2025), expected on Dec 23.
At 6pm, the local currency eased to 4.0770/4.0800 versus the greenback, from 4.0740/4.0785 at last Friday’s close, when it hit its strongest level in almost six years.
At the close, the ringgit was traded mostly lower against a basket of major currencies.
It edged down against the euro to 4.7827/4.7862 from 4.7715/4.7767 at last Friday’s close, fell against the British pound to 5.4750/5.4790 from 5.4514/5.4574, but improved against the Japanese yen to 2.5896/2.5916 from 2.5909/2.5940.
The local currency traded mixed against Asean peers.
It depreciated against the Singapore dollar to 3.1592/3.1618 from 3.1515/3.1553, weakened versus the Thai baht to 13.0740/13.0895 from 12.9428/12.9620, appreciated against the Indonesian rupiah to 242.9/243.3 from 243.2/243.6 previously, and was flat against the Philippine peso at 6.94/6.95. - FMT
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