Ringgit Sees Mixed Performance After US Fed Rate Hike

The Malaysian ringgit had a mixed performance against major currencies on September 17, 2026, following the US Federal Reserve's decision to raise its interest rates.

The local currency weakened against the US dollar, falling to 4.0965/1010 from Tuesday's close of 4.0835/0880, but gained ground against the euro, yen, and British pound.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid stated that the Fed is unlikely to stop at a single rate hike, with further increases potentially on the horizon as it remains committed to bringing inflation back to its two percent target.