THE ringgit began Tuesday’s trading session on a firmer footing against the US dollar, buoyed by profit-taking activity following a sharp rise in the US Dollar Index (DXY), which gained 0.73 per cent to reach 98.430.
At 8.00 am, the ringgit strengthened to 4.2080/2175 against the greenback from Monday’s close of 4.2045/2105.
Bernama cited Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid saying market participants remained cautious over the US Federal Reserve’s possible response to upcoming inflation data.
"The report is expected to show core inflation holding steady at 2.6 per cent for July. Therefore, the USD/MYR may continue to trade in a cautious pattern, with today’s expected range between 4.20 and 4.23," he told Bernama.
The ringgit also traded higher against most major currencies at the opening. It rose against the euro to 4.8859/8969 from 4.9163/9233, strengthened against the Japanese yen to 2.8467/8533 from 2.8534/8577, and appreciated against the British pound to 5.6593/6721 from 5.6740/6821.
Against regional ASEAN currencies, however, the ringgit recorded mixed performance. It remained unchanged against the Singapore dollar at 3.2714/2790 from 3.2761/2810 and held steady against the Philippine peso at 7.41/7.44. The local unit posted a slight gain against the Thai baht at 12.9437/9805 from 12.9561/9801, but dipped against the Indonesian rupiah to 258.7/259.5 from 258.5/259.1 previously. - August 27, 2025
