THE ringgit opened weaker against the US dollar and traded unevenly against other currencies on Thursday, as broad-based strength in the greenback and cautious market sentiment overshadowed support from firmer global oil prices.
At the start of trading, the local currency eased to 3.9565/9630 against the US dollar, compared with 3.9495/9540 at the previous close, reflecting investor caution after the latest decision by the Federal Reserve to hold interest rates steady.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the Fed’s stance signalled confidence in the resilience of the US economy despite moderating job growth.
At its third meeting of the year, the Federal Open Market Committee kept the federal funds rate unchanged within the 3.50 per cent to 3.75 per cent range, reinforcing expectations of a cautious monetary policy path.
“With the sharp spike in crude oil prices, the ringgit is likely to weaken today, with the US dollar/ringgit pair potentially attempting to breach RM3.96,” Mohd Afzanizam told Bernama.
In early trade, the ringgit showed mixed performance against major currencies. It edged higher against the Japanese yen but weakened versus the British pound and the euro.
Across the region, the currency was also uneven against ASEAN peers. It slipped slightly against the Singapore dollar, Indonesian rupiah and Philippine peso, while posting a modest gain against the Thai baht, highlighting a broadly cautious tone in regional foreign exchange markets. - April 30, 2026
