THE ringgit began the trading week flat against the US dollar, with the local note quoted at 4.2200/2250 at 8.01am — matching Friday’s closing level — as market players remained wary of the United States Federal Reserve’s unclear stance on monetary policy.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said investor sentiment remains divided on whether the Fed will focus on stimulating growth or curbing inflation, resulting in uncertainty that has capped potential gains for emerging market currencies, including the ringgit.
“Traders and investors remained divided on whether the Fed would prioritise growth or inflation, creating uncertainty that has limited the upside for emerging market currencies, including the ringgit,” he said, as quoted by Bernama.
He added that the greenback has continued to build strength, noting that “the US Dollar Index (DXY) is trading above the 98-point level.”
“On that note, the ringgit is expected to trade within the RM4.22 to RM4.23 range today,” he said.
At the opening bell, the ringgit was also weaker against a number of major and regional currencies.
It slipped to 2.8265/8301 against the Japanese yen from Friday’s 2.8171/8206, and eased to 5.6599/6666 against the British pound from 5.6345/6412. Against the euro, the ringgit declined to 4.9416/9475 from 4.9281/9340 previously.
Regionally, the ringgit fell to 3.2680/2721 against the Singapore dollar from 3.2630/2671 and depreciated to 13.0849/1081 against the Thai baht from 13.0587/1069.
It, however, remained unchanged against the Indonesian rupiah at 252.1/252.5 and the Philippine peso at 7.25/7.27. - September 29, 2025
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