Malaysian Ringgit Range-Bound as Central Bank Keeps Interest Rates Steady

Malaysia's central bank, Bank Negara Malaysia (BNM), kept the Overnight Policy Rate (OPR) unchanged at 2.75% during its latest meeting.

According to OCBC's economist Christopher Wong, BNM struck a slightly firmer tone in its statement, expecting the economy's sound fundamentals to keep growth resilient into 2027.

The firm domestic backdrop is expected to support the Malaysian Ringgit (MYR), but near-term USD/MYR moves will continue to be influenced by the broader US Dollar (USD) and global rates environment, says Wong.

The current USD/MYR level stands at 4.0420, with bearish momentum on the daily chart fading while the Relative Strength Index (RSI) moderates.