Hopes for a Middle East war resolution and lower inflation figure helped the ringgit strengthen against most currencies, though it eased against the safe-haven US dollar.
At 6pm, the ringgit edged down to 3.9745/3.9785 versus the greenback from 3.9720/3.9770 at Monday’s close.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said market participants are awaiting further developments on the war in Iran as negotiations between the US and Iran continue.
“Meanwhile, WTI and Brent crude prices fell 0.15% and 1.51% to US$108.50 per barrel and US$110.41 per barrel, respectively, as hopes for a resolution to the war strengthened,” he told Bernama
Meanwhile, earlier today, the statistics department said Malaysia’s inflation, as measured by the Consumer Price Index, rose 1.9% year-on-year in April 2026 to 136.9 from 134.3 in the same month last year.
The department said Malaysia’s April inflation was lower than that of several countries, including the Philippines, Vietnam, Thailand, South Korea and Indonesia.
At the close, the ringgit traded mostly higher against a basket of major currencies.
It strengthened versus the Japanese yen to 2.4980/2.5006 from 2.4991/2.5024 and appreciated against the euro to 4.6180/4.6226 from 4.6214/4.6272 at yesterday’s close, but eased against the British pound to 5.3282/5.3336 from 5.3078/5.3145 previously.
At the same time, the local currency traded mixed against regional peers, rising against the Singapore dollar to 3.1022/3.1055 from 3.1036/3.1078 at Monday’s close, and strengthening against the Indonesian rupiah to 224.4/224.8 from 224.8/225.1 yesterday.
However, it eased against the Thai baht to 12.1719/12.1898 from 12.1646/12.1848, and was flat against the Philippine peso at 6.43/6.45 on Monday. - FMT
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