The ringgit opened marginally higher against the US dollar on Thursday, supported by mild buying interest following its recent gains, although a stronger greenback capped further upside.
At 8 am, the local currency rose to 4.0235/0305 against the US dollar from Wednesday’s close of 4.0240/0280.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said recent US economic indicators pointed to a resilient US economy in the third quarter of 2026.
US personal income rose 0.4% month-on-month in July, while personal spending increased 0.2%. Durable goods orders also climbed 1.1% month-on-month.
Meanwhile, the personal consumption expenditures inflation rate, the Federal Reserve’s preferred inflation gauge, rose 3.7% year-on-year in July.
“The US Dollar Index (DXY) has rallied following the release of the data points, whereby the index is hovering around 99.165 points, higher by 0.25% from the previous close,” he told Bernama.
Mohd Afzanizam expects the ringgit to trade between RM4.03 and RM4.06 against the US dollar today.
The ringgit also strengthened against major currencies at the opening, rising against the Japanese yen to 2.5264/5309 from 2.5308/5335 previously. It also gained against the British pound to 5.4704/4799 from 5.4827/4882 and the euro to 4.6894/6975 from 4.6940/6987.
Against regional currencies, the ringgit edged higher against the Singapore dollar to 3.1646/1704 from 3.1683/1717 and the Thai baht to 12.2668/2945 from 12.2791/2959.
The local note was flat against the Indonesian rupiah and Philippine peso at 227.0/227.4 and 6.52/6.54 respectively.
