THE ringgit opened higher on Monday, continuing its recent upward momentum, and briefly touched the 4.16 level against the US dollar as sustained buying interest lent support to the local currency.
At 8.09 am, the ringgit strengthened to 4.1670/1830 against the greenback compared with last Friday’s close of 4.1735/1775. The local note had reached a more than one-year high last week, surpassing the 4.1730/1790 mark last seen on 2 October 2024.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit had been performing robustly since last week, appreciating by more than seven per cent year-to-date to become the best-performing currency in Asia.
“At the same time, the resilience in the Malaysian economy would mean Bank Negara Malaysia (BNM) may want to maintain the prevailing Overnight Policy Rate level, suggesting the gap with the Fed Fund Rate would be reduced further, leading to possible appreciation in the ringgit. As such, key data points such as the third quarter 2025 gross domestic product, which will be announced on Friday, would keep the ringgit steady in the near term,” he said.
BNM Governor Datuk Seri Abdul Rasheed Ghaffour, in an interview with The Edge, noted that Malaysia’s flexible exchange rate regime allows the ringgit to adjust to both global and domestic developments.
“Now that Malaysia operates under a flexible exchange rate system, the ringgit adjusts to global and domestic conditions. In recent years, external factors have exerted some pressure on the ringgit but we have also seen our coordinated efforts provide enduring support. Ultimately, what matters is maintaining strong fundamentals and sound policies so the ringgit reflects the strength of the economy over time,” he told Bernama.
The ringgit opened mostly higher against a basket of major currencies. It strengthened against the yen to 2.7108/7214 from 2.7192/7220 at last Friday’s close, and appreciated against the euro to 4.8133/8319 from 4.8154/8200. However, it eased slightly against the British pound to 5.4759/4969 from 5.4660/4713.
Against regional currencies, the ringgit also gained ground — rising against the Singapore dollar to 3.1995/2123 from 3.2015/2048, climbing versus the Indonesian rupiah to 249.6/250.7 from 250.0/250.4, and edging higher against the Philippine peso to 7.06/7.09 from 7.07/7.08. It also strengthened against the Thai baht to 12.8556/9145 from 12.8999/9174. - November 10, 2025
