Ringgit edges higher as BNM holds OPR, sees resilient growth
The ringgit remained in a tight range against the greenback as markets awaited the US non-farm payrolls figures to be released on Friday night, says an analyst.
KUALA LUMPUR: The Malaysian ringgit saw a marginal increase against the US dollar on Thursday, as Bank Negara Malaysia (BNM) held the overnight policy rate (OPR) steady at 2.75%, according to wire material. The central bank affirmed that their monetary policy stance aligns with the objectives of maintaining price stability and ensuring sustainable economic growth.
The ringgit was quoted at 4.0405/4.0445 against the US dollar at 6pm, down slightly from Wednesday's close of 4.0435/4.0475. BNM's decision to keep the OPR unchanged was supported by resilient global growth, driven by strong technology expansion, improving supply conditions, and stable labor markets. Analysts expect Malaysia's economic growth to reach around 5% in 2026, with robust fundamentals supporting continued growth in 2027.
Bank Muamalat Malaysia Bhd Chief Economist Afzanizam Rashid noted that the ringgit's movements are influenced by upcoming US non-farm payrolls (NFP) data, which could sway market sentiment. The ringgit's performance against major currencies showed a slight dip against the euro, British pound, Japanese yen, Philippine peso, Singapore dollar, Thai baht, and Indonesian rupiah.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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