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Malay Mail
2 hours ago
- Business
- Malay Mail
Ringgit ends higher against dollar on safe-haven retreat, but mixed against major currencies
KUALA LUMPUR, June 20 — The ringgit rebounded from yesterday's losses to end higher against the US dollar on Friday, as the latest developments on the Iran-Israel war sparked some buying interest in emerging currencies, a dealer said. At 6 pm, the local note strengthened to 4.2505/2565 versus the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the Israel-Iran war continued to take centre stage as the United States was still weighing its option to participate in the conflict. 'White House spokeswoman Karoline Leavitt indicated that President Donald Trump will make his decision whether or not to go within the next two weeks. The US Dollar Index (DXY) fell 0.22 per cent to 98.691 points,' he told Bernama. However, the ringgit traded mostly lower against a basket of major currencies at the close. It slipped versus the British pound to 5.7356/7437 from 5.7164/7211 at Thursday's close and declined vis-à-vis the euro to 4.9000/9069 from 4.8868/8908 yesterday, but appreciated against the Japanese yen to 2.9245/9289 from 2.9286/9312 previously. The ringgit performed mixed against its Asean peers. The local note advanced versus the Indonesian rupiah to 259.2/259.7 from 259.5/259.9 on Thursday and rose vis-à-vis the Thai baht to 12.9727/9969 from 12.9966/13.0513 previously. However, it weakened against the Singapore dollar to 3.3088/3140 from 3.3072/3102 yesterday and slid versus the Philippine peso to 7.43/7.45 from 7.41/7.42 at the previous close. — Bernama
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Ringgit ends lower amid global financial concerns
KUALA LUMPUR : The ringgit continued to end lower against the greenback today, weighed down by emerging concerns over the global financial outlook, a dealer said. Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit depreciated to as low as RM4.2633 during the morning session as the US federal open market committee (FOMC) members were reluctant to cut rates excessively in light of concerns over higher inflation risk in the second half of 2025. 'This was reflected in their latest quarterly forecast of personal consumption expenditures price index (PCE) inflation, which is expected to reach 3% for 2025 versus the actual figure of 2.1% in April 2025,' he told Bernama. He added that sentiments will remain guarded as the market participants are wary of the potential escalation of the Israel-Iran conflict. At 6pm, the local currency slid to 4.2590/4.2625 versus the US dollar from yesterday's close of 4.2500/4.2550. Conversely, the ringgit traded higher against a basket of major currencies at the close. It rose against the British pound to 5.7164/5.7211 from 5.7218/5.7285 at the close yesterday, gained vis-à-vis the euro to 4.8868/4.8908 from 4.8888/4.8945 yesterday and appreciated versus the Japanese yen to 2.9286/2.9312 from 2.9322/2.9359 previously. The ringgit was also higher against its Asean peers. It advanced versus the Indonesian rupiah to 259.5/259.9 from 260.5/260.9 yesterday, strengthened against the Singapore dollar to 3.3072/3.3102 from 3.3074/3.3115 yesterday, and was up vis-à-vis the Thai baht to 12.9966/13.0513 from 13.0240/13.0449 previously. The local unit also rose against the Philippine peso to 7.41/7.42 from 7.46/7.48 at yesterday's close.
Free Malaysia Today
12 hours ago
- Business
- Free Malaysia Today
Ringgit opens higher amid Iran-Israel conflict
KUALA LUMPUR : The ringgit opened higher against the US dollar on Friday as investors remained cautious amid the escalating conflict in the Middle East, according to an analyst. At 8am, the local note rose to 4.2490/2700 against the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia chief economist Afzanizam Abdul Rashid said market sentiment would likely be cautious as traders and investors were keeping tabs on the Israel-Iran conflict, while the US considers its response to the currency pressures.
Malay Mail
13 hours ago
- Business
- Malay Mail
Ringgit rises in uncertain waters as markets eye Iran-Israel tensions
KUALA LUMPUR, June 20 — The ringgit opened higher against the US dollar on Friday as investors remained in cautious mode amid the escalating conflict in the Middle East, said an analyst. At 8 am, the local note rose to 4.2490/2700 against the greenback from yesterday's close of 4.2590/2625. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market sentiment will likely be cautious as traders and investors watch the evolving Israel-Iran conflict, while the US is considering its response to the currency pressures. 'Still, the US Dollar Index (DXY) hovering below 100 points signals that traders may be going to different major currencies or asset classes to seek protection,' he told Bernama. However, in light of the heightened uncertainties, Mohd Afzanizam said the ringgit could remain weak in the near term. At the opening, the ringgit traded mostly lower against a basket of major currencies. It declined versus the British pound to 5.7264/7547 from 5.7164/7211 at Thursday's close and fell against the euro to 4.8910/9152 from 4.8868/8908 previously. However, it was slightly higher against the Japanese yen at 2.9257/9404 from 2.9286/9312 previously. Conversely, the local note trended higher against its Asean counterparts. It appreciated against the Singapore dollar to 3.3051/3219 from 3.3072/3102 at yesterday's close, climbed to 12.9883/13.0593 from 12.9966/13.0513 versus the Thai baht, inched up vis-a-vis the Indonesian rupiah to 258.9/260.3 from 259.5/259.9 and gained against the Philippine peso to 7.39/7.44 from 7.41/7.42. — Bernama
Malay Mail
a day ago
- Business
- Malay Mail
Ringgit retreats against dollar on Fed inflation forecast, climbs against regional peers
KUALA LUMPUR, June 19 — The ringgit continued to end lower against the greenback on Thursday, weighed down by emerging concerns over the global financial outlook, a dealer said. At 6 pm, the local note slid to 4.2590/2625 versus the US dollar from yesterday's close of 4.2500/2550. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit depreciated to as low as RM4.2633 during the morning session as the United States Federal Open Market Committee (FOMC) members were reluctant to cut rates excessively in light of concerns over higher inflation risk in the second half of 2025. 'This was reflected in their latest quarterly forecast of Personal Consumption Expenditures Price Index (PCE) inflation, which is expected to reach 3.0 per cent for 2025 versus the actual figure of 2.1 per cent in April 2025,' he told Bernama. He added that sentiments will remain guarded as the market participants are wary of the potential escalation of the Israel-Iran conflict. Conversely, the ringgit traded higher against a basket of major currencies at the close. It rose against the British pound to 5.7164/7211 from 5.7218/7285 at the close on Wednesday, gained vis-à-vis the euro to 4.8868/8908 from 4.8888/8945 yesterday and appreciated versus the Japanese yen to 2.9286/9312 from 2.9322/9359 previously. The ringgit was also higher against its Asean peers. It advanced versus the Indonesian rupiah to 259.5/259.9 from 260.5/260.9 on Wednesday, strengthened against the Singapore dollar to 3.3072/3102 from 3.3074/3115 yesterday, and was up vis-à-vis the Thai baht to 12.9966/13.0513 from 13.0240/0449 previously. The local unit also rose against the Philippine peso to 7.41/7.42 from 7.46/7.48 at yesterday's close. — Bernama
