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THE ringgit opened unchanged against the U.S. dollar this morning as currency traders stayed on the sidelines ahead of next week’s US Federal Open Market Committee (FOMC) meeting.
At 8am, the local currency stood at 4.1300/4.1350 against the greenback, the same level recorded at last Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said recent weaker US indicators, including easing consumer confidence and a sluggish labour market, had reinforced expectations of a possible cut to the Federal Funds Rate.
Meanwhile, crude prices have drifted lower following OPEC+’s decision to maintain existing production quotas, with Brent crude hovering around US$62.38 per barrel.
“This points to contained global inflation going into 2026. For now, the ringgit has performed well, appreciating by more than eight per cent on a year-to-date basis,” he told Bernama.
He expects the currency to trade between RM4.12 and RM4.14 against the US dollar today, reflecting a cautious market tone.
At the opening bell, the ringgit slipped against several major currencies. It weakened to 5.4677/4743 against the British pound from 5.4528/4594, fell to 4.7912/7970 against the euro from 4.7768/7825, and eased to 2.6490/6523 against the Japanese yen from 2.6420/6456.
Performance against regional currencies was mixed.
The ringgit softened to 3.1872/1916 against the Singapore dollar from 3.1813/1857 and edged lower to 12.8632/8892 against the Thai baht from 12.8245/8472. It remained unchanged at 247.6/248.0 against the Indonesian rupiah and steady at 7.04/7.06 against the Philippine peso. - December 1, 2025