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THE ringgit opened largely unchanged against the US dollar on Wednesday but strengthened against several other major currencies, supported by resilient domestic economic data despite continued geopolitical uncertainty and volatile global markets.
At 8am, the local currency stood at 3.9200/9355 against the US dollar, little changed from Tuesday’s close of 3.9200/9260.
Recent economic indicators have pointed to continued momentum in Malaysia’s industrial sector.
Data released by the Department of Statistics Malaysia showed that the country’s Industrial Production Index rose 5.9 per cent year-on-year in January 2026, driven primarily by stronger output in manufacturing.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said historical economic data suggested that domestic activity has remained resilient.
"However, it remains to be seen how such momentum can be carried through in the months following the shock from the war in Iran.
"Some countries are now grappling with high oil prices as fear over inflationary pressures seeps in," he said.
Afzanizam added that the ringgit is likely to trade within a narrow range against the US dollar for the rest of the day, possibly between RM3.90 and RM3.95.
He noted that developments in West Asia remain the dominant factor influencing global markets.
"Conflicting signals from the Trump administration have led to volatile moves in Brent crude, which touched as high as US$94.8 per barrel but later stabilised around US$87.80 per barrel.
"The US Dollar Index (DXY) fell 0.35 per cent to 98.826 points while spot gold prices were hovering at US$5,192.74 per ounce," he said.
Global economic indicators have also provided mixed signals. According to Afzanizam, export data from China showed shipments surged 39.6 per cent in February after growing 10 per cent the previous month, while exports to the United States returned to growth of 9.7 per cent after contracting since April last year.
In Japan, fourth-quarter gross domestic product for 2025 expanded by 1.3 per cent, exceeding expectations after a 2.3 per cent contraction in the preceding quarter.
At the opening, the ringgit strengthened against the Japanese yen to 2.4796/4896 from 2.4859/4899 previously. It also gained against the British pound at 5.2606/2814 compared with 5.2744/2824 at Tuesday’s close, and improved against the euro to 4.5519/5699 from 4.5668/5738.
Against regional peers, the ringgit traded mixed.
It edged higher versus the Singapore dollar to 3.0784/0910 from 3.0806/0855, but weakened slightly against the Thai baht to 12.4055/4659 from 12.3941/4205.
The local currency was unchanged against the Indonesian rupiah at 232.4/233.4 and remained steady against the Philippine peso at 6.65/6.68. - March 11, 2026