The ringgit opens higher against the US dollar, trading at its best level since April 2021, supported by strong industrial production data
KUALA LUMPUR: The ringgit maintained its upward momentum, opening slightly firmer against the US dollar on Monday.
At 8.32am, the local currency strengthened to 4.0930/1040 versus the greenback from last Friday’s close of 4.0945/1005.
This level was last seen on April 27, 2021, when the ringgit closed at 4.0960 against the US dollar.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is expected to trade within a narrow range today.
He noted that last week’s US interest rate cut by the Federal Reserve was not a unanimous decision.
“This week, we will see more data points on inflation along with the US Nonfarm Payroll (NFP) report for November,” he told Bernama.
He added that traders and investors are therefore expected to remain cautious.
Domestically, strong economic data provided support for the local note.
The Industrial Production Index (IPI) expanded 6.0% year-on-year in October 2025.
This growth was driven by a 6.5% increase in the manufacturing sector.
Afzanizam said export-oriented industries within manufacturing grew 7.2%, up from 4.8%.
This suggests robust external demand has been supporting the Malaysian economy.
In early trade, the ringgit also trended higher against other major currencies.
It strengthened versus the British pound to 5.4670/4817 from 5.4789/4869.
It edged up against the Japanese yen to 2.6246/6318 from 2.6264/6304.
The local note increased against the euro to 4.8007/8136 from 4.8037/8107.
It traded mixed against ASEAN currencies.
The ringgit climbed against the Singapore dollar to 3.1677/1765 from 3.1701/1750.
It inched up against the Indonesian rupiah to 245.8/246.6 from 245.9/246.4.
However, it was down vis-à-vis the Thai baht to 12.9624/13.0050 from 12.9589/9845.
It was almost flat against the Philippine peso at 6.93/6.95 from 6.93/6.94. – Bernama
