Tag: US dollar

Ringgit opens higher on better market sentiment

KUALA LUMPUR, JUNE 15 -- The ringgit continued its upward momentum by opening higher on Monday against the US dollar and other major currencies, supported by improved risk sentiment following signs of easing geopolitical tensions. At 8am, the local currency rose to 4.0430/0500 against the US dollar from 4.0555/0600 at the close last Friday. Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said news of the possibility of the Strait of Hormuz being reopened following the agreement between the United States and Iran on a peace deal scheduled to be signed on June 19 had boosted market sentiment. “WTI and Brent crude oil prices have fallen by more than four percent, with Brent crude now trading at US$83.83 per barrel. "In my view, the ringgit is heading towards RM4.00 against the US dollar. It may not be at that level immediately but being below RM4.00 is in line with the fair value of the ringgit based on the current macroeconomic conditions and the resilience of Malaysia's economic growth," he told Bernama. In the opening session, the local currency strengthened against a basket of major currencies. The ringgit rose against the Japanese yen to 2.5275/5320 from 2.5334/5364 at last Friday's close, rose against the pound to 5.4374/4468 from 5.4429/4489 and gained against the euro to 4.6911/6992 from 4.6979/7031 previously. The local currency also strengthened against regional currencies. The ringgit rose against the Singapore dollar to 3.1554/1611 from 3.1602/1640 last Friday and surged against the Thai baht to 12.4015/4298 from 12.4105/4288 previously. The local currency also rose against the Indonesian rupiah to 226.3/226.8 from 227.0/227.4 and increased against the Philippine peso to 6.65/6.66 from 6.67/6.68 previously. -- BERNAMA

KUALA LUMPUR, JUNE 15 — The ringgit continued its upward momentum by opening higher on Monday against the US dollar and other major currencies, supported by improved risk sentiment following signs of easing geopolitical tensions. At 8am, the local currency rose to 4.0430/0500 against the US dollar from 4.0555/0600 at the close last Friday. Bank […]

The ringgit opened higher against the US dollar as the US-Iran talks took place

KUALA LUMPUR, May 26 -- The ringgit opened higher against the US dollar and other major currencies on Tuesday, amid talks between the United States (US) and Iran that could potentially end the conflict and lead to the reopening of the Strait of Hormuz. At 8am, the local currency strengthened to 3.9500/9560 against the US dollar from 3.9510/9550 at the close on Monday. US President Donald Trump reportedly said the talks were 'going well' while Pakistan's Army Chief informed China that a deal was 'close'. Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said that although there was optimism that the two countries could reach an agreement, no concrete developments had materialised. “Meanwhile, the impact on the cost of living and the need for global central banks to maintain a tight monetary policy stance are putting pressure on bond markets through rising yields. "In short, the outlook is still unclear and traders are expected to remain cautious about the impact on the real economy," he told Bernama. He said the ringgit was expected to trade flat at RM3.94 to RM3.95 today and market participants were awaiting further information on the ongoing US-Iran negotiations. In the opening session, the ringgit traded higher against a basket of major currencies. It strengthened against the Japanese yen to 2.4847/4887 from 2.4860/4887 at Monday's close, rose against the euro to 4.5958/6028 from 4.5998/6044 yesterday and rose against the pound to 5.3301/3382 from 5.3311/3365 previously. The local currency was mostly higher against regional currencies, however flat against the Indonesian rupiah at 222.6/223.0. The ringgit rose against the Singapore dollar to 3.0917/0967 from 3.0932/0966 at yesterday's close, higher against the Philippine peso to 6.42/6.44 from 6.43/6.44 and up against the Thai baht to 12.1445/1704 from 12.1640/1816 previously. -- BERNAMA

KUALA LUMPUR, May 26 — The ringgit opened higher against the US dollar and other major currencies on Tuesday, amid talks between the United States (US) and Iran that could potentially end the conflict and lead to the reopening of the Strait of Hormuz. At 8am, the local currency strengthened to 3.9500/9560 against the US […]

Ringgit opens higher against US dollar as West Asia peace talks continue

KUALA LUMPUR: The ringgit opened higher against the United States (US) dollar on Monday as investors monitored ongoing peace talks over the crisis in West Asia, analysts said. At 8am, the local currency rose to 3.9170/9230 against the US dollar from 3.9185/9230 at the close last Friday. Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam Abdul Rashid said market sentiment continued to be focused on the war in Iran, with ongoing peace talks seen as difficult to achieve amid inconsistent reports on the progress of the talks. “High oil prices are affecting business margins and consumer spending worldwide, leading to the possibility of investment and consumer spending being dampened. "Therefore, traders' willingness to take risks is expected to remain cautious," he told Bernama . So far, the price of Brent crude oil has increased by 3.55 percent to US$104.93 per barrel. Mohd Afzanizam said the US non-farm payrolls report rose to 115,000 in April compared to the consensus estimate of 62,000, indicating that the US labour market remains resilient and the US Federal Reserve may not be in a hurry to lower interest rates. Therefore, he said the ringgit is expected to trade in a small range and traders are also anticipating the announcement of Malaysia's Gross Domestic Product (GDP) for the first quarter of 2026 this Friday. "The Malaysian economy is seen to continue to maintain a good growth trajectory in the first three months of this year and possibly in the first half of 2026." "This expectation could provide support to the ringgit as the government remains proactive in providing a good response to the current shock," he said. In the opening session, the local currency traded higher against a basket of major currencies and most ASEAN currencies. The ringgit rose against the Japanese yen to 2.4970/5010 from 2.5010/5040 at the close last Friday, rose against the pound to 5.3248/3329 from 5.3354/3416 and gained against the euro to 4.6095/6166 from 4.6121/6174 previously. The local currency rose against the Singapore dollar to 3.0886/0936 from 3.0910/0948 at last Friday's close, strengthened against the Thai baht to 12.1322/1579 from 12.1640/1844 and rose against the Indonesian rupiah to 225.3/225.7 from 225.4/225.7 previously. However, the ringgit was unchanged against the Philippine peso at 6.46/6.47 compared to its closing level last Friday.

KUALA LUMPUR: The ringgit opened higher against the United States (US) dollar on Monday as investors monitored ongoing peace talks over the crisis in West Asia, analysts said. At 8am, the local currency rose to 3.9170/9230 against the US dollar from 3.9185/9230 at the close last Friday. Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam […]

Ringgit stable against US dollar ahead of MPC decision

KUALA LUMPUR: The ringgit opened almost unchanged against the United States (US) dollar from yesterday's close as the market awaits the latest decision from Bank Negara Malaysia's (BNM) Monetary Policy Committee (MPC) scheduled to be announced on May 7. At 8am, the local currency was at 3.9540/9590 against the US dollar at 3.9540/9575 when it closed on Monday. Bank Muamalat Malaysia Bhd Chief Economist, Mohd Afzanizam Abdul Rashid said that although the market is taking a wait-and-see approach ahead of the MPC meeting, the fighting in the Persian Gulf between the United States (US) and Iranian forces has the potential to affect the ceasefire. "Elevated tensions in West Asia resulted in global oil benchmark prices, WTI and Brent crude oil, jumping by 4.39 percent and 5.80 percent to US$106.42 per barrel and US$114.44 per barrel respectively. At the opening of trading, the ringgit traded higher against a basket of major currencies. The local unit rose against the Japanese yen to 2.5151/5184 from 2.5186/5210 at yesterday's close, rose against the British pound to 5.3498/3565 from 5.3612/3660 and gained against the euro to 4.6230/6289 from 4.6329/6370 previously. Meanwhile, the local currency is trading higher compared to the currencies of ASEAN countries. The ringgit rose against the Singapore dollar to 3.0963/1005 from 3.1019/1049 at Monday's close, gained against the Thai baht to 12.0740/0963 from 12.1460/1631, gained against the Indonesian rupiah to 227.3/227.6 from 227.3/227.6, however was unchanged against the Philippine peso at 6.42/6.43. -- BERNAMA

KUALA LUMPUR: The ringgit opened almost unchanged against the United States (US) dollar from yesterday’s close as the market awaits the latest decision from Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) scheduled to be announced on May 7. At 8am, the local currency was at 3.9540/9590 against the US dollar at 3.9540/9575 when it […]

Ringgit Rises as Oil Prices Fall After Donald Trump Signals Possible End to Iran War.

KUALA LUMPUR — The ringgit closed higher against the US dollar today, supported by a sharp decline in global oil prices following signals that the conflict involving Iran could end sooner than expected. An analyst said the easing of geopolitical tensions helped stabilise global markets, with crude oil prices dropping significantly after remarks by Donald […]