Ringgit opens lower against greenback on strong US data

The local currency slides to 3.9540/3.9650 from last Friday’s close of 3.9440/3.9500.

KUALA LUMPUR:

 The ringgit opened lower against the US dollar on Tuesday as firmer US economic data lifted the greenback, but it was higher against other major currencies.

At 8am, the local currency slid to 3.9540/3.9650 against the US dollar, from 3.9440/3.9500 last Friday.

According to the Institute for Supply Management (ISM), the US manufacturing Purchasing Managers Index (PMI) rose to 52.6 in January from 47.9 in December 2025.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US Dollar Index (DXY) headed north after the ISM Index for US manufacturing data came in higher in January, suggesting American companies have become increasingly optimistic, although the survey also indicated a certain degree of pessimism. “On that note, the ringgit could experience a weaker trajectory today,” he noted.

Meanwhile, the ringgit traded higher against a basket of major currencies.

It appreciated against the euro to 4.6649/4.6779 from 4.6957/4.7029 at last Friday’s close, climbed against the Japanese yen to 2.5426/2.5498 from 2.5562/2.5603, and rose versus the British pound to 5.4059/5.4209 from 5.4163/5.4245.

However, the local note opened lower against Asean peers.

The ringgit weakened versus the Singapore dollar to 3.1092/3.1184 from 3.1077/3.1127, dropped against the Thai baht to 12.5488/12.5941 from 12.5250/12.5544, and fell against the Philippine peso to 6.71/6.73 from 6.69/6.71. It retreated against the Indonesian rupiah to 235.3/236.1 from 234.9/235.4 last Friday.

The market was closed yesterday in conjunction with the Thaipusam and Federal Territory public holidays. - FMT