KUALA LUMPUR: The ringgit closed lower against the US dollar yesterday following the United States Federal Reserve’s (Fed) decision to keep interest rates unchanged, which supported the greenback.
At 6pm, the ringgit depreciated to 3.9275/9315 versus the US dollar from 3.9175/9235 at Wednesday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Federal Open Market Committee maintained the benchmark interest rate at its latest meeting, marking the first pause since July 2025.
“The US central bank kept the key interest rate at a range of 3.50% to 3.75%, citing a resilient economic outlook, despite expectations that the Donald Trump administration would favour an interest rate cut,” he told Bernama.
“The Fed remained upbeat in its assessment of the US economy.”
