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THE ringgit opened higher against the US dollar on Friday, buoyed by cautious sentiment ahead of the release of the United States inflation report later tonight.
At 8.02 am, the local currency stood at 4.2190/2285 against the greenback, strengthening from Thursday’s close of 4.2250/2285.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market attention was firmly on the upcoming US consumer price index (CPI) data, which will be released despite the ongoing US government shutdown.
He said consensus estimates indicated a 3.1 per cent increase in headline CPI for September, following a 2.9 per cent rise in August.
“It seems that the US tariff on imports has started to have an impact on general prices, with US Customs duties collection surging 200 per cent in the first nine months of this year to US$174 billion. The US Dollar Index (DXY) has been hovering between 98 and 99 points, so we expect the ringgit to trade within a narrow range today, around RM4.22 to RM4.23,” he told Bernama.
At the opening, the ringgit traded mostly higher against major currencies. It advanced against the British pound to 5.6227/6353 from 5.6395/6442, and edged up against the Japanese yen to 2.7655/7719 from 2.7687/7712. However, it eased slightly versus the euro to 4.9021/9131 from 4.8976/9017.
The local unit also strengthened across most ASEAN currencies, rising to 3.2491/2570 against the Singapore dollar from 3.2513/2542, and to 7.20/7.22 versus the Philippine peso from 7.21/7.22. It also edged up against the Thai baht to 12.8608/8977 from 12.8772/8937, and improved against the Indonesian rupiah to 253.6/254.4 from 254.0/254.4.
Analysts said the ringgit’s near-term direction would depend on the outcome of the US inflation report, as well as signals on potential policy moves from the Federal Reserve. - October 24, 2025
