KUALA LUMPUR: The ringgit closed higher against the US dollar, other major currencies and Asean peers yesterday on continued optimism over Malaysia’s economic growth prospects.
At 6pm, the ringgit rebounded to 3.9295/9360 against the US dollar, up from last Friday’s 3.9440/9500 close as trading resumed following Thaipusam and Federal Territory Day holiday on Monday.
It resumed its uptrend after a short respite versus the US dollar on Thursday and Friday last week as Federal Reserve (Fed) maintained status quo on its rates.
On Monday, S&P Global reported that Malaysia’s headline manufacturing purchasing managers’ index (PMI) climbed to a 20-month high of 50.2 in January, up from 50.1 in December 2025, marking the third consecutive month of improvement in the manufacturing sector’s health.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that the PMI increase suggested businesses have been benefiting from lower input costs, supported by the stronger ringgit. — Bernama
