Ringgit Opens Higher Against US Dollar As Markets Await Fed Decision

The ringgit edged higher against the US dollar on Monday as investors remained cautious ahead of the US Federal Reserve’s policy meeting scheduled for October 27 and 28.

At 8.02am, the local currency was quoted at RM4.0815/4.0870 against the greenback, compared with Friday’s closing rate of RM4.0835/4.0875, according to Bernama. Both the buying and selling rates improved slightly.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Dollar Index had risen 0.2%, while US Treasury yields were also higher as markets awaited the Fed’s decision.

Oil prices remained another concern for investors. Brent crude was trading at around US$116 per barrel amid the ongoing conflict in West Asia, raising concerns about potential disruptions to global oil supplies.

Mohd Afzanizam said the cautious market environment could keep the ringgit trading within a narrow range as investors monitored developments ahead of the US central bank’s meeting.

Against other major currencies, the ringgit strengthened against the Japanese yen and British pound but weakened against the euro.

The ringgit rose to RM2.6020/2.6057 for every 100 Japanese yen, compared with RM2.6076/2.6103 at Friday’s close. Against the pound, it was quoted at RM5.4602/5.4676, down from RM5.4633/5.4687 previously.

However, the local currency weakened against the euro, which stood at RM4.5790/4.5852 compared with RM4.5735/4.5780 at the previous close.

Against regional currencies, the ringgit strengthened against the Singapore dollar and Thai baht. It was quoted at RM3.1937/3.1982 against the Singapore dollar, while 100 Thai baht stood at RM12.0865/12.1086.

The ringgit also edged higher against the Indonesian rupiah, with 100 rupiah quoted at RM225.70/226.10 compared with RM225.80/226.10 previously. It remained unchanged against the Philippine peso at RM6.42/6.43 for every 100 pesos.

Ringgit Opening Rates: Monday, 26 October 2026