KUALA LUMPUR: The ringgit closed lower against the US dollar yesterday, as cautious sentiment prevailed in the foreign exchange market.
This came on the back of China’s weaker economic data and amid jitters ahead the Federal Open Market Committee minutes to be released tomorrow.
At 6pm, the ringgit depreciated to 3.9720/9770 versus the greenback from 3.9515/9580 at last Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said data points in China took the centre stage with its fixed-asset investment shrinking 1.6% in the first four months of 2026 against the consensus estimate of 1.7% growth.
“The April figures showed China’s economy is slowing amid the supply shock in the oil and gas sector.
“This is following the war in Iran which erupted on Feb 28 this year,” he told Bernama.
