THE ringgit climbed to its highest level in five years against the U U.S. dollar during early trade on Wednesday, driven by a weaker greenback as the US dollar index (DXY) softened.
By 8am, the local currency was quoted at 4.0490/0710 against the US dollar, improving from 4.0615/0665 at Tuesday’s close. The ringgit last traded near this level on March 3, 2021, when it reached 4.0490/0530.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the ringgit’s strength to a decline in the DXY, which fell 0.39 per cent to 97.903 points after the Conference Board reported that US consumer confidence dropped to 89.1 points in December from 92.9 points in November, below market expectations of 91.7 points.
He noted that the local currency had closed 0.39 per cent higher against the US dollar at 4.06 on Tuesday. “As such, the ringgit could maintain its positive momentum, supported by the latest US economic data,” he told Bernama.
The ringgit opened higher against a range of major currencies. It appreciated against the Japanese yen to 2.5934/6076 from 2.6039/6072 at Tuesday’s close, strengthened against the British pound to 5.4718/5015 from 5.4851/4918, and rose against the euro to 4.7762/8022 from 4.7901/7960.
Regional currencies also saw the ringgit gain ground. The Malaysian unit traded higher against the Singapore dollar at 3.1524/1701 from 3.1607/1648, advanced against the Thai baht to 13.0126/0921 from 13.0486/0705, strengthened versus the Indonesian rupiah to 241.2/242.6 from 241.9/242.3, and edged up against the Philippine peso to 6.88/6.92 from 6.90/6.91. - December 24, 2025
