The ringgit opened higher against the US dollar today as cautious sentiment prevailed ahead of the US Federal Open Market Committee (FOMC) meeting on Sept 15-16, 2026.
At 8am, the local currency edged up to 4.0630/4.0730 against the greenback from Friday’s close of 4.0685/4.0725.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market sentiment was also being influenced by the Bank of Japan’s (BOJ) interest rate decision, which is scheduled for Sept 18.
He said prevailing crude oil market conditions suggested inflationary pressures could remain elevated, with Brent crude hovering around US$107 a barrel.
“The East-West oil pipeline shutdown by the Saudi government and the postponement of a meeting between Iran and the Gulf states suggest the vulnerability of oil supplies coming from West Asia,” he said.
Afzanizam said risk-off sentiment was expected to dominate market conditions for now.
“On that note, the ringgit is expected to trade between RM4.07 and RM4.08 today,” he added.
Against major currencies, the ringgit opened mixed.
It strengthened against the euro to 4.7106/4.7222 from Friday’s 4.7178/4.7225 and gained against the British pound to 5.4952/5.5087 from 5.4961/5.5015.
However, it weakened against the Japanese yen to 2.6478/2.6545 from 2.6400/2.6428 previously.
The ringgit also strengthened against all four major ASEAN currencies.
It rose against the Singapore dollar to 3.2060/3.2144 from 3.2091/3.2125, while appreciating against the Thai baht to 12.2731/12.3092 from 12.3072/12.3241.
The local currency also gained against the Indonesian rupiah to 230.7/231.3 from 231.0/231.3, and edged up against the Philippine peso to 6.48/6.50 from 6.49/6.50 at Friday’s close.
