Ringgit opens mixed as West Asia tensions and US jobs data keep investors on edge

THE ringgit opened marginally weaker against the US dollar on Friday as renewed geopolitical tensions in West Asia and uncertainty over a potential peace agreement between the United States and Iran weighed on investor sentiment, even as the local currency strengthened against most major and regional peers.

At 8am, the ringgit was traded at 3.9100/9200 against the greenback, slightly softer compared with Thursday’s close of 3.9070/9115.

Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index remained broadly stable at around 98 points as market participants awaited the release of the latest United States jobs data.

He noted that the ringgit had closed stronger the previous day, gaining 0.42 per cent against the US dollar to 3.9093, following Bank Negara Malaysia’s decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent.

“They remain confident that strong economic fundamentals and sound economic policies would help the country's economy to sustain its growth momentum,” he said.

“Hence, steady OPR should be ringgit-positive. On that note, expect the local currency to remain around RM3.90 against the greenback today,” he added.

Despite the softer opening against the US dollar, the ringgit strengthened against a basket of major currencies.

It rose against the euro to 4.5872/5989 from 4.5978/6031 at Thursday’s close, gained against the British pound to 5.3004/3140 from 5.3202/3263 previously, and edged higher versus the Japanese yen to 2.4925/4990 compared with 2.4982/5013.

The local currency also posted gains against most regional peers.

It appreciated against the Singapore dollar to 3.0807/0890 from 3.0861/0901, and strengthened against the Thai baht to 12.1098/1479 from 12.1486/1687.

Meanwhile, the ringgit was largely stable against the Indonesian rupiah at 225.5/226.2 compared with 225.4/225, and showed little movement against the Philippine peso at 6.47/4/6.49 versus 6.46/6.48.

Currency traders said sentiment remained broadly cautious as investors balanced Malaysia’s steady domestic monetary policy outlook against external risks stemming from geopolitical instability and upcoming US economic data releases. - May 8, 2026