KUALA LUMPUR: The ringgit opened higher against the US dollar amid cautious market sentiment ahead of the upcoming United States Federal Open Market Committee (FOMC) meeting on Sept 15-16, 2026.
At 8 am, the local currency edged up to 4.0630/0730 against the greenback from last Friday’s close of 4.0685/0725.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the Bank of Japan (BOJ) interest rate decision on Sept 18 is also influencing market sentiment.
He said the prevailing conditions surrounding crude oil prices suggest inflationary pressures could stay elevated, with Brent crude now hovering at US$107 per barrel.
"The East-West oil pipeline shutdown by the Saudi government and the postponement of a meeting between Iran and the Gulf states suggest the vulnerability of oil supplies coming from West Asia,” he told Bernama.
In the meantime, the risk-off mode is going to dominate market sentiments, he said.
"On that note, the ringgit is expected to trade between RM4.07 and RM4.08 today,” he added.
At the opening, the ringgit traded mixed against a basket of major currencies.
It strengthened against the euro to 4.7106/7222 from Friday’s 4.7178/7225. It rose against the British pound to 5.4952/5087 from 5.4961/5015, but was lower vis-à-vis the Japanese yen at 2.6478/6545 from 2.6400/6428, previously.
The ringgit traded higher against ASEAN currencies.
It strengthened against the Singapore dollar to 3.2060/2144 from 3.2091/2125, appreciated against the Thai baht to 12.2731/3092 from 12.3072/3241 and rose against the Indonesian rupiah to 230.7/231.3 from 231.0/231.3, previously.
It inched up against the Philippine peso to 6.48/6.50 from 6.49/6.50 at Friday’s close. - Bernama
