THE national currency opened largely unchanged against the US dollar on Friday, reflecting cautious investor sentiment as tensions in the Middle East showed no signs of easing over the past week.
At 8 am, the local currency was quoted at 3.9430/9550 against the greenback, marginally higher than Thursday’s close of 3.9415/9480.
Bank Muamalat Malaysia Bhd’s Chief Economist Dr Mohd Afzanizam Abdul Rashid said that risk-off sentiment continued to dominate the market, with major global indices trading lower and oil prices remaining elevated, contributing to a subdued and cautious trading environment.
“Bank Negara Malaysia’s recent decision on the overnight policy rate (OPR) aligns with economists’ expectations. Policymakers appear to be closely monitoring developments in the Middle East before making any changes to the current monetary stance,” Dr Mohd Afzanizam explained. “Hence, the ringgit is expected to remain range-bound today.”
Brent crude was trading at US$85.41 per barrel at the time of writing, while the yield on the 10-year US Treasury note edged up four basis points to 4.13 per cent.
Yesterday, the ringgit closed 0.04 per cent lower against the US dollar at RM3.9447, having fluctuated within a narrow range of RM3.9305 to RM3.9483.
The ringgit’s performance against other major currencies was mixed at the opening. It strengthened against the euro to 4.5762/5902 from Thursday’s 4.5808/5884 and rose against the Japanese yen to 2.5024/5102 from 2.5080/5124.
However, it weakened slightly against the British pound to 5.2659/2819 from 5.2635/2722.
Against regional ASEAN currencies, the ringgit appreciated versus the Thai baht to 12.4072/4539 from 12.4711/5016 and strengthened against the Singapore dollar to 3.0795/0891 from 3.0885/0938. It was little changed against the Indonesian rupiah at 233.2/234.0 and remained stable versus the Philippine peso at 6.72/6.75.
The cautious market sentiment suggests that traders are closely observing global developments, particularly in the Middle East, while domestic monetary policy remains steady. - March 6, 2026
