Ringgit ends higher on improved market sentiment
Market sentiment improved as oil prices fell following fresh momentum for US-Iran talks, says analyst.
KUALA LUMPUR: The Malaysian ringgit experienced a rise against the US dollar today, driven by improved market sentiment due to fresh progress in US-Iran negotiations. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid attributed the positive shift in market sentiment to indications that US president Donald Trump might meet Iranian president Masoud Pezeshkian during a side meeting at the UN general assembly.
He explained that such developments have contributed to the appreciation of emerging market currencies, including the ringgit. By 6pm, the ringgit reached 4.0755/4.0800 against the US dollar, up from Friday's close of 4.0795/4.0840. Throughout the day, the currency showed gains against other major currencies as well, such as the euro and the British pound, while experiencing a decline against the Japanese yen.
The ringgit's performance varied against its regional peers, appreciating against the Philippine peso and the Indonesian rupiah, but weakening against the Singapore dollar and the Thai baht.
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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- Ringgit rises against US dollar as market sentiment improves malaymail.com
- Ringgit ends higher on improved market sentiment freemalaysiatoday.com
- Ringgit ends higher against US dollar on improved market sentiment nst.com.my
