{
  "id": 16133253,
  "title": "Ringgit opens higher as AI investment concerns weigh on greenback",
  "url": "https://urgent.news/2026/10/23/ringgit-opens-higher-as-ai-investment-concerns-weigh-on-greenback",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-23T01:01:33.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/10/1561740/ringgit-opens-higher-ai-investment-concerns-weigh-greenback"
  },
  "original_language": "en",
  "account": "At the start of the trading day on Friday, the Malaysian ringgit started off stronger as the US dollar weakened, driven by worries over investments in artificial intelligence (AI) businesses. By 8am, the ringgit had climbed to 4.0785/0855 against the dollar, up from Thursday's closing rate of 4.0815/0850. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid attributed the fluctuation to concerns over whether further investments in AI-related companies would yield timely returns. He also noted a decreasing chance of an interest rate hike by the Federal Reserve, as the two- and ten-year US Treasury yields dropped by 16 and 17 basis points to 4.64 percent and 4.95 percent respectively. The US Dollar Index also saw a slight decrease, easing by 0.15 percent to 101.625 points. However, rising concerns about growth prospects made the prospect of an interest rate hike seem less likely, leading to the ringgit maintaining a narrow trading range throughout the day, according to Mohd Afzanizam. The ringgit traded mostly lower against a group of major currencies at the opening, but managed to climb slightly against the euro, Japanese yen, and Thai baht by the day's end. Its performance against its ASEAN peers was mixed, with gains against the Thai baht and Indonesian rupiah, and a flat performance against the Philippine peso. The ringgit fell against the Singapore dollar.",
  "summary": "KUALA LUMPUR: The ringgit opened higher on Friday as the greenback weakened after equity prices fell amid heightened concern over artificial intelligence (AI)-related investments.",
  "key_points": [
    "Malaysian ringgit starts higher against US dollar due to AI investment concerns",
    "Bank Muamalat Malaysia economist cites uncertain returns on AI investments",
    "US Dollar Index and US Treasury yields decline, reducing rate hike expectations"
  ],
  "editors_take": "Uncertainty regarding the profitability of artificial intelligence investments weakens the US dollar, providing the Malaysian ringgit with a momentary advantage as expectations for Federal Reserve interest rate hikes diminish.",
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Ringgit opens higher as AI investment concerns weigh on greenback",
        "url": "https://urgent.news/2026/10/23/ringgit-opens-higher-as-ai-investment-concerns-weigh-on-greenback-16134614",
        "published": "2026-10-23T00:36:00.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Ringgit opens higher as greenback weakens amid AI investment concerns",
        "url": "https://urgent.news/2026/10/23/ringgit-opens-higher-as-greenback-weakens-amid-ai-investment-concerns",
        "published": "2026-10-23T01:35:06.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}