KUALA LUMPUR: The ringgit ended marginally higher against the US dollar on Thursday, supported by Bank Negara Malaysia (BNM) maintaining the overnight policy rate (OPR).
The Malaysian central bank also assessed that the current monetary policy stance remains consistent with the outlook for continued price stability and sustainable economic growth.
At 6 pm, the ringgit was quoted at 4.0405/0445 against the US dollar compared with Wednesday's close of 4.0435/0475.
BNM maintained the OPR at 2.75 per cent at its meeting today, noting that economic indicators point to resilient global growth, supported by strong global technology expansion, improving supply conditions and stable labour markets.
It said solid growth momentum is expected to bring Malaysia's economic growth to around five per cent in 2026, while the economy's sound fundamentals are expected to keep growth resilient in 2027.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the ringgit remained in a tight range against the greenback as markets awaited the US non-farm payrolls (NFP) figures to be released on Friday night.
"Thus far, the ADP Employment Report has fallen short of expectations, with private-sector employment increasing by only 38,000 in August, signalling that the NFP could potentially disappoint market expectations. At the moment, the markets are spooked by the hawkish statement from the US Federal Reserve chairman last week. Hence, the incoming data will dictate the evolving market sentiment," he told Bernama.
Against a basket of major currencies, the ringgit dipped against the euro to 4.6894/6940 from 4.6787/6834 yesterday and eased against the British pound to 5.4539/4593 from 5.4527/4581.
The local note also weakened against the Japanese yen to 2.5838/5865 from 2.5294/5321 at Wednesday's close.
The ringgit traded mostly lower against regional currencies.
It was flat against the Philippine peso at 6.46/6.47 since yesterday and declined against the Singapore dollar to 3.1850/1884 from 3.1739/1773.
It fell against the Thai baht to 12.2421/2598 from 12.1321/1488 and also traded lower against the Indonesian rupiah at 228.5/228.8 from 227.6/227.9 at yesterday's close. - Bernama
