Ringgit Tumbles Against USD Amid Geopolitical Uncertainties

The Ringgit opened mostly higher against major currencies but slightly lower against the US dollar on Monday. The currency's value is influenced by geopolitical uncertainties, which have increased demand for the greenback.

According to Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam, geopolitical risk will continue to shape market sentiment as United States President Donald Trump has rejected Iran's plan to reopen the Strait of Hormuz.

The Ringgit traded at 4.0725/0780 against the US dollar on Monday morning, slightly lower than its Friday close of 4.0715/0765.