Ringgit shows mixed performance amid European financial concerns

The Malaysian ringgit saw mixed performance against major currencies on Monday, October 5, 2026. It strengthened against most ASEAN currencies but weakened slightly against the US dollar, reflecting broader market concerns over Europe's financial stability.

At the close of trading, the ringgit was priced at 4.0845/0890 per US dollar, a minor decline from Friday's 4.0820/0870. Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid attributed this movement to rising risk-off sentiment, driven by worries over France's public finances and political instability in Spain, where a snap election was announced.

The ringgit's performance varied against other major currencies. It gained against the euro and Japanese yen but slipped against the British pound. Meanwhile, it held steady or improved slightly against most ASEAN currencies, including the Singapore dollar, Thai baht, and Indonesian rupiah.

Dr Afzanizam noted that the US Dollar Index (DXY) gained momentum as investors sought safer assets, keeping the ringgit in a tight trading range against the US dollar.