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THE ringgit is expected to move within a range of RM3.93 to RM3.98 against the US dollar next week as investors maintain a cautious stance, closely monitoring the trajectory of global crude oil prices and developments in the Middle East.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid told Bernama that traders and investors are likely to keep a close watch on the ongoing war in Iran, which continues to inject uncertainty into the market.
Sharing a similar outlook, Kenanga Investment Bank expects investors to adopt a defensive approach, reducing exposure to high-risk emerging market assets.
“Despite Malaysia’s LNG windfall providing partial insulation, the ringgit should stay capped and trade sideways with a mild weakening bias at RM3.93-RM3.95 against the US dollar.
“Our baseline assumes no swift de-escalation and continued vulnerability of critical West Asia supply routes. Elevated energy prices should keep global inflation risks and bond yields biased higher, tightening financial conditions and reducing the scope for near-term Fed easing,” Kenanga said in a recent research note.
On a week-on-week basis, the ringgit ended stronger against the US dollar, closing at 3.9365/9410 compared with 3.9425/9535 the previous Friday.
The local currency also posted gains against a basket of major currencies, edging up against the Japanese yen to 2.4683/4715 from 2.4973/5044, strengthening versus the British pound to 5.2214/2273 from 5.2530/2676, and rising against the euro to 4.5093/5144 from 4.5634/5762.
The ringgit also strengthened against regional peers in Southeast Asia.
It gained versus the Singapore dollar to 3.0730/0767 from 3.0779/0867, rose against the Thai baht to 12.1862/2062 from 12.3392/3810, improved versus the Indonesian rupiah to 232.1/232.5 from 232.9/233.6, and strengthened against the Philippine peso to 6.59/6.60 from 6.68/6.70.
Analysts said the ringgit’s movement remains closely linked to energy price fluctuations and geopolitical risks, factors that are likely to maintain a cautious tone in the currency market in the near term. - March 15, 2026
