Ringgit opens marginally higher against US dollar

The Malaysian ringgit started the day marginally higher against the US dollar on Thursday, according to an analyst. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid attributed this to mild buying interest after recent gains, though a stronger greenback put a cap on further upward movement. US economic indicators released last night indicated that the US economy remained resilient in the third quarter of 2026, with personal income increasing by 0.4% month-on-month, personal spending rising by 0.2% month-on-month, and durable goods orders up by 1.1% month-on-month.

The personal consumption expenditures (PCE) inflation rate, the Federal Reserve's preferred inflation gauge, rose by 3.7% year-on-year in July. The US Dollar Index (DXY) has risen following the release of this data, currently hovering around 99.165 points, up 0.25% from the previous close, according to Afzanizam. He expects the ringgit to trade between RM4.03 and RM4.06 against the US dollar throughout the day.

At the opening, the ringgit traded at 4.0235/4.0305 against the greenback, up from Wednesday's close of 4.0240/4.0280. It gained against the Japanese yen, British pound, and euro, while the local note traded mostly higher against regional currencies like the Singapore dollar and Thai baht. The ringgit remained flat versus the Indonesian rupiah and the Philippine peso.