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THE Malaysian ringgit opened firmer at the 3.97 level against the US dollar on Thursday, buoyed by improved market sentiment following the announcement of a two-week ceasefire in the Middle East, which has encouraged risk-on trading.
At 8 am, the local currency was quoted at 3.9730/9915 against the greenback, compared with Wednesday’s close of 3.9735/9785.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid noted that the US dollar index (DXY) continued to hover below the 100 mark, standing at 99.013, reflecting a 0.85 per cent decline.
The ringgit had previously closed higher by 1.33 per cent at 3.9735, signalling tentative optimism among investors.
Nevertheless, Afzanizam cautioned that the situation remained delicate, warning that any breach of the ceasefire could quickly shift market sentiment and trigger a sharp rise in crude oil prices.
“Today, the USD/MYR could stay in a narrow range as traders and investors continue to observe the compliance with the ceasefire agreement,” he told Bernama.
The ringgit also strengthened against other major currencies at Thursday’s opening. It rose to 2.5041/5159 against the Japanese yen from 2.5071/5104, appreciated against the euro to 4.6317/6533 from 4.6407/6465, and strengthened against the British pound to 5.3202/3450 from 5.3348/3415.
Performance against regional currencies was mixed. The ringgit slipped slightly versus the Singapore dollar to 3.1168/1316 from 3.1155/1199 but gained against the Thai baht to 12.3769/4427 from 12.4056/4282.
It traded almost flat against the Philippine peso at 6.68/6.72 from 6.68/6.70 and showed minimal change against the Indonesian rupiah at 233.5/234.7 compared with 233.5/233.9.
The cautious optimism in the ringgit’s performance underscores investor attention on regional geopolitical stability and the impact of energy market volatility on emerging Asian currencies. - April 9, 2026
