Forex
Ringgit Takes a Hit Amid US Rate Hike Expectations
The Malaysian ringgit ended lower against the US dollar on Friday as investors closely monitored the ongoing debate about potential interest rate hikes in the United States.
The market is awaiting the Federal Open Market Committee meeting scheduled for September 15 and 16, during which the US Federal Reserve (Fed) may announce a decision to raise interest rates. Despite no changes to interest rates yet in 2026, hawkish remarks by Fed Chair Kevin Warsh at the Jackson Hole symposium have heightened expectations of a rate hike this month.
The ringgit was quoted at 4.0425/0465 against the US dollar at 6 pm on Friday, down from Thursday's close of 4.0405/0445.