THE ringgit opened firmer against the US dollar on Thursday, extending its rally to a seventh straight trading day as financial markets turned their attention to crucial talks between the leaders of the United States and China.
The local currency strengthened to 3.9265/9330 against the greenback at the opening bell, compared with Wednesday’s close of 3.9285/9325, amid cautious optimism surrounding the May 14-15 summit between US President Donald Trump and Chinese President Xi Jinping in Beijing.
Bank Muamalat Malaysia Berhad Chief Economist Dr Mohd Afzanizam Abdul Rashid said traders were largely expecting constructive outcomes from the high-stakes meeting, which comes amid rising geopolitical tensions and growing concerns over global growth.
He noted that surging fuel prices linked to the ongoing conflict in West Asia were beginning to feed into inflationary pressures, potentially weakening expectations of an imminent interest rate cut by the US Federal Reserve.
At the time of reporting, Brent crude oil prices had edged 0.08 per cent higher to US$105.71 per barrel.
“However, the situation remains fluid. Growth could come under pressure and the Fed may shift its focus towards supporting the economy,” he told Bernama.
The ringgit traded mixed against other major global currencies during early trading.
It strengthened against the Japanese yen to 2.4872/4914 from 2.4888/4916 at Wednesday’s close, but weakened slightly against the British pound to 5.3110/3198 from 5.3105/3160 and slipped against the euro to 4.6003/6079 from 4.5987/6034 previously.
Against regional currencies, the ringgit posted a mostly stronger performance.
The local unit advanced against the Singapore dollar to 3.0859/0915 from 3.0872/0906 and improved against the Indonesian rupiah to 224.6/225.1 from 224.7/225.1.
It also edged higher against the Philippine peso to 6.39/6.41 from 6.40/6.41, although it eased marginally against the Thai baht to 12.1469/1735 from 12.1419/1599. - May 14, 2026
