Ringgit Edges Up Despite Stronger Dollar Sentiment

The Malaysian ringgit started Tuesday with a modest gain against the US dollar, despite the greenback’s strength due to higher US interest rate expectations. At 8 am, the ringgit reached 4.0835/0895 per dollar, up slightly from Monday’s close of 4.0845/0890. The US dollar index (DXY) climbed 0.23% to 102.167 points, signaling continued support for the dollar.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the ringgit was likely to trade within a narrow range due to the stronger greenback. The economist’s remarks reflect cautious optimism amid broader market conditions.