Ringgit Rises as Malaysia Awaits Negeri Sembilan Poll Results

The Malaysian ringgit has risen against the US dollar, driven by positive domestic sentiment ahead of the Negeri Sembilan state election. According to Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid, market participants are watching how the state election influences national politics, particularly ahead of polling in Negeri Sembilan.

The ringgit opened higher on Monday, strengthening to 4.0830/4.0930 against the greenback from 4.0885/4.0935 at Friday's close. Early voting for the Negeri Sembilan state election will take place on July 28, with polling scheduled for August 1.