The ringgit held steady against the US dollar but strengthened against other major currencies, supported by robust domestic industrial data amid global market volatility.
KUALA LUMPUR: The ringgit opened unchanged against the US dollar on Wednesday but gained ground against other major currencies. The local note was quoted at 3.9200/9355 versus the greenback, identical to Tuesday’s close of 3.9200/9260.
Resilient domestic economic data provided underlying support. Malaysia’s Industrial Production Index rose 5.9% year-on-year in January 2026, driven by a stronger manufacturing sector.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said historical data confirms resilient economic activity. He cautioned that momentum must be sustained following the shock from the war in Iran.
READ MORE: Ringgit opens firmer against US dollar amid improved risk sentiment
“Some countries are now grappling with high oil prices as fear over inflationary pressures seeps in,” he told Bernama. He expects the ringgit to trade sideways against the US dollar today, likely between RM3.9000 and RM3.9500.
Geopolitical tensions in West Asia continue to dominate market attention. Conflicting signals from the Trump administration led to volatile moves in Brent crude oil, which touched US$94.8 per barrel before stabilising around US$87.80.
The US Dollar Index fell 0.35% to 98.826 points, while spot gold prices hovered at US$5,192.74 per ounce. Positive economic data from key trading partners also influenced sentiment.
China’s exports jumped 39.6% in February, while export growth to the US turned positive at 9.7%. Japan’s fourth-quarter 2025 gross domestic product came in better than expected at 1.3%.
Against other majors, the ringgit rose to 2.4796/4896 from 2.4859/4899 versus the Japanese yen. It climbed against the British pound to 5.2606/2814 from 5.2744/2824 and firmed against the euro to 4.5519/5699 from 4.5668/5738.
Trading was mixed against ASEAN currencies. The ringgit edged up against the Singapore dollar to 3.0784/0910 from 3.0806/0855. It fell against the Thai baht to 12.4055/4659 from 12.3941/4205.
It was flat against the Indonesian rupiah at 232.4/233.4 and unchanged against the Philippine peso at 6.65/6.68.
