THE ringgit opened nearly unchanged against the US dollar on Monday as mixed global sentiment limited gains, with investors weighing political developments abroad alongside movements in major currencies.
At 8am, the local currency traded almost flat at 3.9430/3.9560 against the greenback, compared with last Friday’s close of 3.9440/3.9525.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said a combination of global factors is currently influencing foreign exchange markets, and he expects the US dollar–ringgit pair to trade within a range of RM3.93 to RM3.95 during the day.
“We foresee emerging market currencies, including the ringgit, remaining on a positive note amid an improvement in market uncertainty,” he said.
Afzanizam pointed to external developments, including the landslide victory by Japan’s Liberal Democratic Party in Sunday’s general election, which he said signalled that Prime Minister Sanae Takaichi is likely to push ahead with further economic stimulus measures. Such a policy direction, he noted, could weigh on the Japanese yen.
At the same time, easing tensions between the United States and Iran over the nuclear programme, following discussions on Friday, have contributed to lower benchmark Brent crude prices, he added.
Regional political developments were also lending support to market sentiment, Afzanizam said, highlighting Thailand’s general election, where the Bhumjaithai Party secured a comfortable margin, pointing to continued political and economic stability in the country.
“In some sense, there is a bit of optimism in the market. However, the weaker yen has contributed to a firmer US Dollar Index (DXY),” he said.
At the opening, the ringgit traded mostly lower against a basket of major currencies. It strengthened against the Japanese yen to 2.5075/2.5161 from 2.5111/2.5167 at last Friday’s close, but weakened against the British pound to 5.3664/5.3841 from 5.3548/5.3663 and slipped versus the euro to 4.6630/4.6784 from 4.6508/4.6608 previously.
The local note was also mostly softer against its ASEAN peers. It traded nearly flat against the Indonesian rupiah at 233.6/234.5 from 233.6/234.3 previously, eased against the Singapore dollar to 3.1020/3.1125 from 3.0965/3.1034, fell versus the Thai baht to 12.5386/12.5887 from 12.4609/12.4933, and was flat against the Philippine peso at 6.73/6.75. - February 9, 2026
