Ringgit opens higher vs US Dollar ahead of FOMC meeting

The Malaysian ringgit opened higher against the US dollar ahead of the upcoming Federal Open Market Committee (FOMC) meeting on September 15-16, 2026, as per wire material. At 8 am, the local currency rose to 4.0630/0730 against the greenback from Friday's close of 4.0685/0725. Dr Mohd Afzanizam Abdul Rashid, chief economist of Bank Muamalat Malaysia Bhd, mentioned that the Bank of Japan's interest rate decision on September 18 is also impacting market sentiment.

He noted that oil prices, with Brent crude hovering at US$107 per barrel, indicate potential inflationary pressures remaining elevated. The East-West oil pipeline shutdown by Saudi Arabia and the postponement of an Iran-Gulf states meeting suggest vulnerability in Middle East oil supplies, according to Dr Rashid. The prevailing risk-off mode is expected to dominate market sentiments, leading to the ringgit trading between RM4.07 and RM4.08 today.

At the opening, the ringgit traded mixed against major currencies, strengthening against the euro, British pound, and Asean currencies, but trading lower against the Japanese yen. The ringgit also appreciated against the Singapore dollar, Thai baht, and Indonesian rupiah, while inching up against the Philippine peso.