{
  "id": 16140597,
  "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-16140597",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-23T00:36:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/23/ringgit-opens-higher-as-ai-investment-concerns-weigh-on-greenback"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: The Malaysian ringgit surged higher on Friday as the US dollar weakened following a drop in stock prices due to heightened worries over artificial intelligence (AI) investments, according to reports. By 8am, the ringgit had climbed to 4.0785/4.0855 against the greenback, up from Thursday's close of 4.0815/4.0850. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid explained that the concerns arose from doubts among investors regarding the timely returns from further investments in AI-linked firms. He also noted that the likelihood of an interest rate increase by the Federal Reserve (Fed) was decreasing, as the two- and 10-year US Treasury yields decreased by 16 and 17 basis points to 4.64% and 4.95%, respectively. The US Dollar Index (DXY) also softened by 0.15% to 101.625 points. However, growing concerns about growth prospects were casting doubt on the need for a rate hike, making the ringgit's narrow trading range today seem likely. Throughout the day, the ringgit fluctuated against various currencies, strengthening against the euro while weakening against the Japanese yen and British pound. Its performance against regional currencies was mixed, with gains against the Thai baht and Indonesian rupiah, but a flat performance against the Philippine peso.",
  "summary": "The local note rises to 4.0785/4.0855 against the US dollar from Thursday’s close of 4.0815/4.0850.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}