Ringgit Holds Firm as BNM Keeps OPR at 2.75 Percent

The ringgit ended marginally higher against the US dollar on Thursday following Bank Negara Malaysia's (BNM) decision to maintain the overnight policy rate (OPR). The BNM kept the OPR at 2.75 per cent, citing resilient global growth supported by strong technology expansion and stable labour markets.

The Malaysian central bank also forecasted that Malaysia's economic growth will reach around five per cent in 2026, with sound fundamentals expected to keep growth resilient in 2027.

According to Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, the ringgit has remained in a tight range against the greenback as markets await the US non-farm payrolls (NFP) figures to be released on Friday night.

The local currency dipped against several major currencies, including the euro and British pound, but traded mostly lower against regional currencies such as the Philippine peso and Singapore dollar.