THE ringgit extended its upward run on Monday, opening stronger for the 12th consecutive session against the US dollar as markets entered a holiday-shortened trading week ahead of the New Year.
At 8am, the local currency rose to 4.0425/0565 against the greenback from last Friday’s close of 4.0470/0535, continuing a steady appreciation trend that has marked recent sessions.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said trading activity was likely to remain subdued, with limited scope for major movements due to the shortened week and the New Year holiday on Thursday.
“Therefore, we expect the US dollar-ringgit to range around RM4.04-RM4.05 today,” he told Bernama.
The ringgit was also mostly firmer against major currencies at the opening.
It strengthened against the Japanese yen to 2.5855/5948 from 2.5866/5909 at last Friday’s close, appreciated against the euro to 4.7592/7757 from 4.7629/7706, and was nearly unchanged versus the British pound at 5.4570/4759 from 5.4570/4657 previously.
The local currency also gained ground against regional peers.
It rose against the Singapore dollar to 3.1474/1588 from 3.1497/1550, advanced versus the Thai baht to 12.9913/13.0451 from 13.0212/0484, strengthened against the Indonesian rupiah to 241.3/242.4 from 241.6/242.2, and edged up against the Philippine peso to 6.88/6.91 from 6.89/6.90 at the previous close.
With market participation expected to remain thin, analysts said the ringgit’s near-term direction would likely be driven more by technical momentum than fresh catalysts until trading resumes in full after the holiday period. - December 29, 2025
