Ringgit Opens Higher Against US Dollar for 10th Consecutive Trading Day

KUALA LUMPUR: The ringgit opened higher against the US dollar for the 10th consecutive trading day on Friday, reflecting continued positive sentiment towards the local currency at the start of trading.

At 8 am, the ringgit strengthened to 4.0570/0625 against the US dollar from Thursday’s closing level of 4.0575/0620.

The currency was trading close to its seven-week high, with the previous opening level of 4.0560 recorded on September 9, 2026.

Bank Muamalat Malaysia Bhd Chief Economist Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) declined by 0.33 per cent to 101.854 points.

He said the decline occurred despite stronger-than-expected United States (US) Gross Domestic Product (GDP) growth in the third quarter of 2026 and an increase in personal consumption expenditures (PCE) inflation in September.

Mohd Afzanizam said US Treasury yields for the two-year and 10-year tenures also fell by 10 and eight basis points, respectively, to 4.60 per cent and 4.94 per cent.

“Therefore, we believe the market is pricing in the possibility of the US Federal Reserve (Fed) changing the direction of its monetary policy.

“Consequently, the ringgit is expected to maintain its positive trend in the near term, given the limited room for further monetary policy tightening by the Fed.

“The ringgit-US dollar exchange rate is expected to trade between RM4.05 and RM4.07 today,” he told Bernama.

At the opening session, the ringgit traded lower against other major currencies.

It weakened against the British pound to 5.4275/4348 from Thursday’s closing level of 5.4009/4069 and declined against the euro to 4.5365/5427 from 4.5176/5226.

The ringgit also weakened against the Japanese yen to 2.5707/5743 from 2.5685/5715 previously.

The local currency traded mixed against ASEAN currencies.

The ringgit was little changed against the Indonesian rupiah at 223.6/224.0 from Thursday’s closing level of 223.7/224.0 and remained flat against the Philippine peso at 6.35/6.36.

The local currency weakened against the Singapore dollar to 3.1700/1746 from Thursday’s closing level of 3.1665/1702 and declined against the Thai baht to 12.0279/0513 from 12.0165/0345 previously.

BERNAMA