The local note rises to 4.0540/4.0640 as 5.7% growth signals continued resilience in Malaysia’s economy.
At 8am, the local currency strengthened to 4.0540/4.0640 against the greenback from Friday’s close of 4.0555/4.0605.
Bank Muamalat Malaysia Bhd’s chief economist, Afzanizam Rashid, stated that the US Dollar Index (DXY), however, has been on a rising trend, gaining against other major currencies.
He also noted that the possible snap election in Japan has recently led to a weaker yen as market uncertainties have heightened.
However, he said the stronger-than-expected advance GDP estimates for Malaysia in the Q4 of 2025 suggest that the economy remains resilient.
“And Bank Negara Malaysia’s Monetary Policy Committee (MPC) meeting is expected to keep the overnight policy rate (OPR) steady when they meet on Thursday.
“As such, the ringgit versus the US dollar is expected to be in a range of around RM4.05 and RM4.06 today,” he added.
At the opening, the ringgit traded mostly lower against a basket of major currencies, except against the British pound, which it appreciated to 5.4328/5.4462 from 5.4332/5.4399.
It eased versus the Japanese yen to 2.5728/2.5793 from 2.5637/2.5670 at Friday’s close and edged down against the euro to 4.7120/4.7236 from 4.7076/4.7134 last week.
The local note traded mostly lower against its Asean peers.
The ringgit rose against the Indonesian rupiah to 240.0/240.7 from 240.1/240.5.4 at Friday’s close, while it changed little versus the Philippine peso at 6.83/6.85 compared with last week’s close of 6.83/6.84.
It also declined against the Thai baht to 12.9525/12.9932 from 12.9115/12.9332, and eased versus the Singapore dollar to 3.1502/3.1585 from 3.1479/3.1521. - FMT
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