Weaker US Jobs Data Boosts Ringgit Against Dollar

The Malaysian ringgit opened stronger against the US dollar on Monday, October 5, 2026, as weaker-than-expected US jobs data dampened expectations of a Federal Reserve interest rate hike. At 8 am, the ringgit reached 4.0805/0870 against the greenback, up from Friday's close of 4.0820/0870.

Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, attributed the ringgit's rise to the disappointing nonfarm payrolls (NFP) report. The US economy added only 29,000 jobs in September, far below the forecasted 90,000. The unemployment rate also ticked up to 4.2%, suggesting the Fed may hold off on rate hikes at its October 27-28 meeting.

The ringgit gained ground against most major currencies, including the Japanese yen and the euro, but weakened against the British pound. Regionally, it strengthened against the Singapore dollar and Thai baht but remained unchanged against the Philippine peso and Indonesian rupiah.