Ringgit Edges Higher Ahead of Negri Sembilan Election

The Malaysian ringgit opened higher against the US dollar on Monday, driven by positive domestic sentiment ahead of the Negri Sembilan state election.

According to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid, market participants will be watching how the state election influences national politics.

The local currency strengthened to 4.0830/0930 against the greenback from 4.0885/0935 at Friday's close. Early voting in Negri Sembilan is set to take place on Tuesday (July 28), with polling scheduled for August 1, 2026.

Dr Mohd Afzanizam noted that while positive domestic developments could support the ringgit, external factors remain a dominant influence on market sentiment. He cited the upcoming FOMC meeting and its potential impact on interest rates as a key consideration.