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THE ringgit is expected to trade within a tight range against the US dollar next week as investors await key economic data from the United States and monitor developments in Washington’s nuclear negotiations with Tehran.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said market attention will centre on the US labour market, particularly the release of Nonfarm Payroll (NFP) figures and the unemployment rate.
He noted that further talks between the United States and Iran are scheduled to take place in Vienna, following a third round of discussions in Geneva that concluded without a breakthrough.
The outcome of those negotiations could also influence global currency markets.
“Apart from that, the Bank Negara Malaysia’s Monetary Policy Committee members will decide the Overnight Policy Rate on March 5, where most economists are expecting no change in the policy rate,” he said.
In light of these factors, he expects the local currency to remain range-bound, with the USD/MYR pair likely to hover between RM3.88 and RM3.90.
On a week-on-week basis, the ringgit ended firmer against the greenback, closing at 3.8910/8960 compared with 3.8995/9055 the previous Friday.
The local note traded mostly higher against major currencies over the week. It strengthened against the Japanese yen to 2.4930/4963 from 2.5092/5132 and rose against the British pound to 5.2470/2538 from 5.2511/2591. However, it edged marginally lower against the euro to 4.5898/5957 from 4.5882/5952 previously.
Against regional peers, the ringgit was generally weaker. It slipped versus the Singapore dollar to 3.0742/0784 from 3.0724/0774, declined against the Indonesian rupiah to 231.7/232.2 from 230.8/231.3, eased against the Philippine peso to 6.75/6.76 from 6.70/6.72, and weakened slightly against the Thai baht to 12.5153/5370 from 12.4952/5216. - February 28, 2026