THE ringgit opened firmer against the U.S. dollar on Monday, extending last week’s upward momentum as the U.S. currency weakened in the lead-up to the Federal Open Market Committee’s two-day meeting beginning on Tuesday.
At 8am, the local unit traded at 4.1035/1245 against the US dollar, compared with 4.1105/1140 at last Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said sentiment was buoyed by expectations that the US Federal Reserve will deliver a 25-basis point rate cut as it shifts focus toward supporting growth amid signs of a cooling economy.
“On that note, the ringgit is expected to remain well supported, with the US dollar-ringgit likely to range between RM4.11 and RM4.12,” Mohd Afzanizam told Bernama.
The ringgit reached a four-year and five-month high last Thursday, touching 4.1115/1165 against the greenback. This surpassed the previous peak on 16 June 2021, when it closed at 4.1155.
The local currency also firmed against major currencies at the opening. It strengthened against the British pound to 5.4671/4951 from 5.4859/4905, gained against the euro to 4.7769/8013 from 4.7912/7953, and appreciated slightly against the Japanese yen to 2.6426/6563 from 2.6536/6561.
Against ASEAN currencies, the ringgit advanced to 3.1663/1827 against the Singapore dollar from 3.1741/1773 and edged higher versus the Philippine peso to 6.96/7.00 from 6.97/6.98. It also strengthened against the Thai baht at 12.8403/9133 from 12.9054/9221, while remaining broadly steady against the Indonesian rupiah at 246.4/247.8 from 246.8/247.2. - December 8, 2025
