The local note slips to 4.0850/4.0900, weighed down by market uncertainty over US-Iran negotiations.
At 8am, the local currency was at 4.0850/4.0900 against the greenback from 4.0835/4.0875 at Monday’s close.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the odds are for an interest rate rise in the US, which will lead to a rise in the value of the greenback.
“Traders and investors will be focusing on the US Federal Open Market Committee (FOMC) scheduled for today and tomorrow (July 28-29, 2026).
“As such, the ringgit-US dollar pair is expected to continue to trade within a narrow range today,” he added.
The ringgit traded higher against a basket of major currencies at the opening today.
It edged up against the Japanese yen to 2.4940/2.4973 from 2.4969/2.4994 at yesterday’s close, appreciated vis-a-vis the euro to 4.6438/4.6495 from 4.6536/4.6581, and rose versus the British pound to 5.4281/5.4348 from 5.4433/5.4486 previously.
The ringgit was mixed against regional currencies.
It strengthened against the Singapore dollar to 3.1627/3.1669 from 3.1653/3.1686 and ticked up vis-a-vis the Thai baht to 12.1379/12.1589 from 12.1612/12.1775, previously.
The local currency weakened against the Indonesian rupiah to 226.8/227.2 from 226.7/227.0 and was flat vis-a-vis the Philippine peso at 6.62/6.63. - FMT
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