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THE Malaysian ringgit gained ground against the US dollar at the start of Friday’s trading session, bolstered by persistent uncertainties in the United States that continued to weigh on the greenback, according to Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid.
At 8am, the local currency was quoted at 3.9190/9410 against the US dollar, up from Thursday’s close of 3.9275/9315.
The opening level brought the ringgit close to its strongest point versus the greenback since April 2018, when it last touched 3.9030.
Dr Mohd Afzanizam noted that the US Dollar Index (DXY) fell 0.28 per cent to 96.175 points as former President Donald Trump continued to pressure the US Federal Reserve to lower the Fed Funds Rate.
“Trump has been consistently saying the central bank should lower interest rates substantially. He also indicated he would announce his nominee for Fed chairman next week, implying he would pick someone aligned with his goal of lower policy rates,” he told Bernama.
The ringgit had weakened 0.23 per cent to RM3.9295 on Thursday after the Fed opted to maintain rates while issuing a positive assessment of the US economy. “As such, the ringgit could resume its upward trend amid US uncertainties and a weaker dollar,” he added.
The local currency also strengthened against a basket of major international and regional currencies. It rose against the euro to 4.6899/7162 from 4.6953/7001, climbed versus the Japanese yen to 2.5588/5733 from 2.5616/5644, and firmed against the British pound to 5.4114/4417 from 5.4207/4263.
Against regional peers, the ringgit gained against the Singapore dollar at 3.1005/1181 from 3.1065/1099, strengthened versus the Thai baht to 12.5356/6152 from 12.5930/6119, and edged higher against the Philippine peso to 6.65/6.69 from 6.66/6.67. The ringgit also rebounded against the Indonesian rupiah, rising to 233.8/235.3 from 234.4/234.7.
The gains reflect a broader trend of capital flows favouring the ringgit amid global economic uncertainties and heightened volatility in the US currency market. - January 30, 2026