Ringgit opens higher vs US dollar for tenth straight day

On Friday, the Malaysian ringgit opened stronger against the US dollar for a record 10th consecutive day, indicating steady confidence in the local currency at the beginning of trading. At 8am, the ringgit rose to 4.0570/4.0625 against the greenback, up from Thursday's finish of 4.0575/4.0620. The currency was trading close to a seven-week peak, a level it touched at 4.0560 on September 9, 2026.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid pointed to a 0.33% drop in the US Dollar Index to 101.854 points, despite strong US economic data and a higher personal consumption expenditure inflation rate in September. The economist also noted a decline in US two-year and 10-year Treasury yields by 10 and 8 basis points to 4.60% and 4.94%, respectively.

This led Afzanizam to believe the market may be anticipating a shift in the Federal Reserve's monetary policy direction. Consequently, the ringgit is expected to continue its upward trend in the short term, barring any further tightening of Fed monetary policy. The ringgit-US dollar pair may hover between RM4.05 and RM4.07 today.

Against other major currencies, the ringgit opened lower. It fell against the British pound to 5.4275/5.4348, against the euro to 4.5365/4.5427, and slightly against the Japanese yen to 2.5707/2.5743. Against its Asean peers, the ringgit was unchanged against the Indonesian rupiah and flat against the Philippine peso, while it weakened against the Singapore dollar to 3.1700/3.1746 and fell against the Thai baht to 12.0279/12.0513.