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 rate of 4.0575/0620.

The currency was trading near a seven-week high, with the previous opening level of 4.0560 recorded on Sept 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 came despite better-than-expected 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 the two-year and 10-year US Treasury yields also fell by 10 and eight basis points to 4.60 per cent and 4.94 per cent, respectively.

“Therefore, we believe the market is factoring in the possibility that the US Federal Reserve (Fed) may change the direction of its monetary policy.

“As such, the ringgit is expected to maintain its positive trend in the near term, given the limited room for the Fed to further tighten monetary policy.

“The ringgit is expected to trade between RM4.05 and RM4.07 against the US dollar 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 close of 5.4009/4069 and declined against the euro to 4.5365/5427 from 4.5176/5226.

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

Meanwhile, 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 close 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 close of 3.1665/1702 and declined against the Thai baht to 12.0279/0513 from 12.0165/0345 previously.

BERNAMA